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Terry seems to have recovered a key feature of the theory expressed by North, Wallis, and Weingast in Violence and Social Orders. On their view, industrializati
by riemannzeta 1y ago
Terry seems to have recovered a key feature of the theory expressed by North, Wallis, and Weingast in Violence and Social Orders. On their view, industrialization depended upon a handful of nation states achieving what they call "door step conditions", which include the ability for citizens to freely form legitimate political parties or for-profit corporations without an affirmative act of government.
According to North, Wallis, and Weingast, the "double balance" of open political and economic competition — between incumbent large organizations and what we might call "startups" — is what allowed a handful of countries to transcend the "natural state" or "limited access order" in which an oligarchy of elites control the economy and government (including access to violence).
It seems like his posts represent an independent reproduction of a key piece of their theory.