Economics Dictionary of ArgumentsHome
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| Coordination: Coordination generally refers to the process of organizing people or groups so that they work together effectively and efficiently to achieve a common goal or task. Coordination in economics refers to the organization of different elements of a production system or market to achieve efficient outcomes. It involves aligning the actions of consumers, businesses, and governments, to ensure optimal use of resources and meet collective goals, often facilitated by price signals, contracts, and other market mechanisms._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Mario J. Rizzo on Coordination - Dictionary of Arguments
Parisi I 280 Coordination/Rizzo: The most important factor that enhances the predictability of law, even as it changes and adapts to new circumstances, is the nature of the process involved. To see this we must distinguish between two forms of coherence in the law. Rizzo (1999)(1) differentiates logical coherence of the law from the praxeological coherence, or the coordination, which arises from the law. For Rizzo, and the Austrian approach more generally, it is praxeological coherence, or coordination in society, which is at the forefront of analysis. The logical consistency of laws is neither necessary nor sufficient for such coordination. >Law, >Coordination/Hayek. 1. Rizzo, M. J. (1999). “Which Kind of Legal Order? Logical Coherence and Praxeological Coherence.” Journal des Economistes et des Etudes Humaines 9(4): 497–510. Rajagopalan, Shruti and Mario J. Rizzo “Austrian Perspectives on Law and Economics.” In: Parisi, Francesco (ed) (2017). The Oxford Handbook of Law and Economics. Vol 1: Methodology and Concepts. NY: Oxford University. _____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Rizzo, Mario J. Parisi I Francesco Parisi (Ed) The Oxford Handbook of Law and Economics: Volume 1: Methodology and Concepts New York 2017 |
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