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Fall 2003

ISSN 0890-913X

Volume 19, Number 1

Categories: Fall 2003 | Economic and social Development

Institutions North and South : What 'Guns, Germs, and Steel' Can and Can't Tell Us About New World Economics

Edward J. Bierhanzl, Florida A&M University

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InstitutionsNorthandSouth:WhatAGuns,Germs,andSteel@CanandCan=tTellUsAboutNewWorldEconomiesEdwardJ.BierhanzlFloridaA&MUniversityJaredDiamond=sGuns,Germs,andSteelhasbroughttoawideaudienceanexaminationoftherolethatclimateandgeographyhaveplayedinshapingthepathofhumancivilization.Historically,economicresearchhasfocusedontherelationshipbetweencontemporaneousresourceavailabilityandeconomicgrowth.MuchoftheappealofDiamond=sbookcomesfromthefactthatithighlightsamuchmorefundamentalrelationship:thelinkbetweenresourceavailability(ormoregenerally,climateandgeography)andthedevelopmentofhumansocietyitself.Recently,economicresearchonthelinksbetweengeographyandsuchfactorsasincome,economicgrowth,anddevelopmenttrendshasgrownsubstantially.Whilethereisstillalivelydebateintheliterature(Acemoglu,2003,RodrikandSubramanian,2003,andSachs,2003framethediscussionwell)itisclearthatthisareaofinquiryrepresentsanimportantcontributiontoourunderstandingofeconomicaffairs.Througheffectsbothdirectandindirect,geographymatters.Therapidgrowthofarelatedareaofeconomicresearchhasshownanotherconsensusthatisemerging:institutionsmatter.Theimportanceofefficientinstitutionsandthecoordinatingpowerofmarketshavebecomeincreasinglyrecognizedasacentralcomponentofeconomicprosperityworldwide.Agooddealofworkhasrecentlybeendedicatedtoanalyzingtherelationshipsbetweeninstitutions(botheconomicandpolitical)andvariousmeasuresofeconomicperformanceandwell-being.ThisworkhastakenonadditionalsignificanceasaresultofthedevelopmentofobjectivemeasuresofeconomicfreedomsuchasGwartneyandLawson=s(2002)EconomicFreedomoftheWorldindex,producedinconjunctionwiththeFraserInstitute.Awealthofstudieshavebeenconductedwiththisdataandtheevidencecontinuestoaccumulatethat

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Title	Institutions North and South : What 'Guns, Germs, and Steel' Can and Can't Tell Us About New World Economics
Authors/Creators:	Edward J. Bierhanzl, Florida A&M University
Year:	2003
Volume:	19
Number:	1
Pages:	73 - 92
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles

Citation:
Bierhanzl, Edward J. / 2003. "Institutions North and South : What 'Guns, Germs, and Steel' Can and Can't Tell Us About New World Economics." The Journal of Private Enterprise, 19(1): 73-92.