"The view that now pervades much public policy economics implicitly presents the relevant choice as between an ideal norm and an existing "imperfect" institutional arrangement. This nirvana approach differs considerably from a comparative institution approach in which the relevant choice is between alternative real institutional arrangements."
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University of California, Los Angeles facultyAcademics from the United StatesEconomists from the United StatesPeople from Chicago
Original Language: English
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Cited in: Eggertsson (1990; 22)
https://en.wikiquote.org/wiki/Harold_Demsetz
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Harold Demsetz
(May 31, 1930 – January 4, 2019) was an American economist, and Professor Emeritus of Economics at the (UCLA). Demsetz belonged to the , and was one of the pioneers of New Institutional Economics.
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