Institution

Challenges and Obstacles in Federalism and Democracy

Abstract: 
This article briefly describes some of the challenges to the traditional fields of economy and political area: the public choice approach, the tragedy of the commons debate, the ‘new’ institutional economy, and behavioral challenges. Then, the components of a basic analytical framework are presented that provide a general means for analyzing public economies and diverse forms of collective action. Descriptive study related to public economies, common-pool resources, and behavioral change have summarized what has contributed to the field of institutions. The last section concludes that the macro foundations of institutions appear firmer than the micro foundations related to the model of the individual to be used and discusses this problem.
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