In recent years there has been increasing discontent with the abstract nature of mainstream economics. Not only does this make the subject less relevant to real issues, it drives a wedge between economics and other disciplines ostensibly addressing the same issues. Borderlands of Economics explores the ways in which economics might be reconnected, both with the real world and with other disciplines.

This book offers a strong contribution to the growing field of institutional economics, going beyond the question of why institutions matter and examines the ways in which different types of institutions are conducive to the enhancement of competitiveness and economic development. Adopting a variety of approaches, ranging from New Institutional Economics, Public Choice, Constitutional Political Economy and Austrian Economics, to more traditional economic approaches, contributors examine the important issues of interest to development economics. This book asks whether democracy is a...