Neutral markets, nonneutral institutions and economic evolution

• Published in: Економічний вісник Донбасу
• Date: 2010
• Main Authors: Volchik, V., Maslov, A.
• Format: Article
• Language: English
• Published: Інститут економіки промисловості НАН України 2010
• Subjects: Economic Theory
• Online Access: https://nasplib.isofts.kiev.ua/handle/123456789/24011
• Journal Title: Digital Library of Periodicals of National Academy of Sciences of Ukraine
• Cite this: Neutral markets, nonneutral institutions and economic evolution / V. Volchik, A. Maslov // Економічний вісник Донбасу. — 2010. — № 4(22). — С. 26-33. — Бібліогр.: 26 назв. — англ.

The article argues the neutral nature of markets. It describes the ways neutral markets expand or fold under the influence of non-neutral institutions. A demarcation is lined up between efficacy of a market process and a market result. The paper shows inconsistency of existing neoclassic models in t...