INSTITUTIONAL NIHILISM AS A BASIS FOR ANTI-DEVELOPMENT POLICY

• Published in: Montenegrin journal of economics 2012-01, Vol.8 (1), p.119
• Main Authors: Veselin, Draskovic, Mimo, Draskovic
• Format: Article
• Language: English
• Subjects: Economic growth; Economic policy; Economic reform; Entrepreneurs; Growth models; Human capital; Hypotheses; Institutionalization; Liberalism; Neoliberalism; Nihilism; Property rights; Socialism; Society; State regulation; Studies; Transition economies
• ISSN: 1800-5845; 1800-6698

This paper discusses the causes and conditions that have disabled the pluralistic and even monistic acting of economic institutes in the practice of transitional countries and have led to their objective substitution by the quasi-institutes and meta-institutes of a sociopathological nature. It emphasizes the primary significance of institutionalization for economic policy, as well as the negative effect of pseudo-institutes on economic policy and the valorisation of economic resources. The paper explains that the institute of civil society as an instrument of people protection from the government doesn't work universally. It's denied by variety of national, corporate and informal groups ("elites"), which are superior in wealth and power and limiting the individuals. The authors start from the hypothesis that the institutional nihilism is the main cause of unsuccessful post-social transition and anti-development and vulgarized neo-liberal economic policy. They also start from hypothesis that the neo-liberal myth about "mini" state was the interest cover by privileged individuals for their promotion and choice implementation.