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convergence at the end

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14 - Conclusions
from Part III - The Grand Transition
Martin Paldam, Aarhus Universitet, Denmark
Book:

The Grand Pattern of Development and the Transition of Institutions

Published online:

07 August 2021

Print publication:

19 August 2021, pp 243-250
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Summary

The book shows that institutional changes have a large endogenous element in the form of strong but fuzzy underlying transitions. This is illustrated by a tale of three countries with a different culture and history that have converged to become much the same. However, the endogeneity means that we are explaining development by development, which gives a very confluent process. It is argued that exogeneity enters through arbitrary triggering events, which creates the large-scale fuzziness we observe, even when the underlying endogeneity leads to much the same transitions in the end.

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14 - Conclusions

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14 - Conclusions

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