GOVERNANCE, GOVERNMENT, AND ECONOMIC POLICIES
GOVERNANCE, GOVERNMENT, AND ECONOMIC POLICIES

Summary/Abstract: The paper has been structured with the help of two basic concepts of institutional economics: governance, meant as managing economic conflicts within an organization (firm); and government, meant as coordination of interests in the framework of the state (policy). In the first part, it argues that economic analysis should deal to a greater extent with coordination within and among corporations due to specific characteristics of these actors and due to their significance in contemporary economy. In the next part, it states that understanding economic operations and performance, and economic policies in particular, requires including government-business relations into the researcher’s perspective. It concludes that the notions of institutional order and economic order serve as good organizers of thinking about the economy.

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