"Silent trade" and the supposed continuum between OIE and NIE

Wilfred Dolfsma*, Antoon Spithoven

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

5 Citations (Scopus)

Abstract

New Institutional Economics (NIE) claims that Silent Trade exists. Indeed, it would constitute the first step 'as trade moves beyond the border of the village' (North). In this brief article we show both that Silent Trade - trade between parties who have only the most minimal of a shared frame of reference, without direct contact - has not existed and that NIE cannot account for the representational re-description and change in governance structure that it would entail. At least on the issue of language and learning, NIE is categorically different from Original Institutional Economics (OIE).

Original languageEnglish
Pages (from-to)517-526
Number of pages10
JournalJournal of Economic Issues
Volume42
Issue number2
DOIs
Publication statusPublished - 2008
Externally publishedYes

Keywords

  • Economic methodology
  • Gift exchange
  • Institutional economics
  • Language
  • Silent trade

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