
The Long Game Of Institutions: An Institutional Economic Strategy For Abia State – By Prof Chukwuemeka Ifegwu Eke
THE LONG GAME OF INSTITUTIONS: AN INSTITUTIONAL ECONOMIC STRATEGY FOR ABIA STATE Institutions as the Foundation of Economic Life K. William Kapp’s The Foundations of Institutional Economics begins from a fundamental rejection of the idea that economic outcomes are the natural result of market forces operating in isolation. For Kapp, the economy is not an autonomous system governed solely by prices and individual choice, but a social process embedded in legal, political, and cultural institutions. As he argues, “economic processes are always socially organized and institutionally conditioned” (Kapp, 2011, p. 6). Development, therefore, cannot be reduced to capital accumulation or…









