POLI 324 Lecture Notes - Lecture 19: Price Controls, Free Trade, Structural Adjustment
28 Feb 2017
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Document Summary
Relationships within society is very complex and not just transactional. Informal institutions are socially-shared rules, usually unwritten, created, communicated, and enforced outside officially sanctioned channels (helmke and. Traditional authorities are leaders whose authority is linked to, but not determined by, precolonial traditions and customs (thompson 2016) Survived, adapted to modernization and state building projects. Ritual authority (traditions, customs, lineage, inheritance, etc. ) Modern african chiefs with legal-rational authority (state laws and codes) Not entirely based on these customs with time, they have been able to adapt. As an important resource in organizing modern politics, business without: as social liability contract becoming an issue, problem-creating, undermining the formal political economy. Colluding with national elites to subvert formal rules. Using discriminatory rules to exploit vulnerable societal groups: framework for the political economy. Building formal economy take away institutions that erode the state. Emergence of discourse that binds these two together.
