Enterprise Hall, 318
April 15, 2007, 08:00 PM to 07:00 PM
Informal institutions have a large impact on a society and its economy, though they have been fairly neglected in by traditional economists. Value systems are compared to discover their relative merits for creating and maintaining a market economy. Important findings include existence of institutional substitutes for absent values and institutional currency as an important part of social capital. Case studies on the club fights and feasts of the Yanomami Indians are presented.