Accueil
https://www.wikiberal.org/wiki/Claudia_R._Williamson
https://www.beloit.edu/upton/assets/VOL_VI_.full.volume.pdf#83
"Economists have long argued that the formal institutions associated with eco
-
nomic freedom have a positive link with economic success. “Since the time of
Adam Smith, if not before, economists and economic historians have argued that
the freedom to choose and supply resources, competition in business, trade with
others, and secure property rights are central ingredients for economic progress”
(De Haan and Sturm, 2000: 3). Innumerable studies have established the positive
correlation between economic and political freedom and economic growth (Gold
-
smith, 1995; Leblang, 1996; Scully, 1992) and economic freedom and growth
(Berggren, 2003; Gwartney et al., 1996; Scully and Slottje, 1991). Other studies
have demonstrated the link between particular institutions of economic freedom
and economic growth. For example, empirical studies have linked private prop
-
erty rights to economic growth (Berggren and Karlson, 2005; Goldsmith, 1995;
Torstensson, 1994). Perhaps the most popular measure for economic freedom is
the Economic Freedom of the World Index, which groups components of eco
-
nomic freedom into the following categories: size of government; legal structure
and security of property rights; access to sound money; freedom to trade interna
-
tionally; and regulation of credit, labor, and business (Gwartney et al., 2011). De
Haan et al., (2006) survey the literature using this index and find support for the
positive relationship between economic freedom and economic growth.
Though these studies, and many more, have provided ample evidence of the
importance of economic freedom for economic growth, they do not speak to the
effect of culture, or informal institutions, on economic growth. Empirical studies
on the impact of culture on economic outcomes demonstrate a strong relation
-
(p.83-90)
"Where culture is inconsistent with economic freedom, installing the formal institutions associated with economic freedom, such as rule of law, protection of private property, and enforcement of contracts, will still have a positive impact but not as strong an impact as where the culture is consistent with economic freedom. Where there is a mismatch between formal and informal institutions, the formal institutions of economic freedom will not have the backing of local norms and values. This makes the creation of binding, enforceable constraints difficult and costly. It is in this way that culture can impact the productivity of economic freedom for better or worse. Perhaps the biggest conclusion that can be drawn from this work is the importance of economic freedom, both culturally and within formal institutions, for economic success. In our efforts to ameliorate suffering and eliminate world poverty, we would do best to remember that liberty is the key. Establishing both the cultural values associated with liberty and the formal institutions of economic freedom is the road out of serfdom." (p.99-100)
-Claudia R. Williamson and Rachel L. Coyne, "Culture and Freedom", in Joshua C. Hall (dir.), "The Annual Proceedings of the Wealth and Well-Being of Nations, 2013-2014", Volume VI, 2014, Beloit College Press, pp.83-104.
https://www.beloit.edu/upton/assets/VOL_VI_.full.volume.pdf#83
"Economists have long argued that the formal institutions associated with eco
-
nomic freedom have a positive link with economic success. “Since the time of
Adam Smith, if not before, economists and economic historians have argued that
the freedom to choose and supply resources, competition in business, trade with
others, and secure property rights are central ingredients for economic progress”
(De Haan and Sturm, 2000: 3). Innumerable studies have established the positive
correlation between economic and political freedom and economic growth (Gold
-
smith, 1995; Leblang, 1996; Scully, 1992) and economic freedom and growth
(Berggren, 2003; Gwartney et al., 1996; Scully and Slottje, 1991). Other studies
have demonstrated the link between particular institutions of economic freedom
and economic growth. For example, empirical studies have linked private prop
-
erty rights to economic growth (Berggren and Karlson, 2005; Goldsmith, 1995;
Torstensson, 1994). Perhaps the most popular measure for economic freedom is
the Economic Freedom of the World Index, which groups components of eco
-
nomic freedom into the following categories: size of government; legal structure
and security of property rights; access to sound money; freedom to trade interna
-
tionally; and regulation of credit, labor, and business (Gwartney et al., 2011). De
Haan et al., (2006) survey the literature using this index and find support for the
positive relationship between economic freedom and economic growth.
Though these studies, and many more, have provided ample evidence of the
importance of economic freedom for economic growth, they do not speak to the
effect of culture, or informal institutions, on economic growth. Empirical studies
on the impact of culture on economic outcomes demonstrate a strong relation
-
(p.83-90)
"Where culture is inconsistent with economic freedom, installing the formal institutions associated with economic freedom, such as rule of law, protection of private property, and enforcement of contracts, will still have a positive impact but not as strong an impact as where the culture is consistent with economic freedom. Where there is a mismatch between formal and informal institutions, the formal institutions of economic freedom will not have the backing of local norms and values. This makes the creation of binding, enforceable constraints difficult and costly. It is in this way that culture can impact the productivity of economic freedom for better or worse. Perhaps the biggest conclusion that can be drawn from this work is the importance of economic freedom, both culturally and within formal institutions, for economic success. In our efforts to ameliorate suffering and eliminate world poverty, we would do best to remember that liberty is the key. Establishing both the cultural values associated with liberty and the formal institutions of economic freedom is the road out of serfdom." (p.99-100)
-Claudia R. Williamson and Rachel L. Coyne, "Culture and Freedom", in Joshua C. Hall (dir.), "The Annual Proceedings of the Wealth and Well-Being of Nations, 2013-2014", Volume VI, 2014, Beloit College Press, pp.83-104.
