Striving to be member of the club: when institutions become variables and outcomes become given

Abstract

Successful, less successful and unsuccessfiil examples of system transformation processes leading to or trying to lead to stable democratic market economies are plentiful. These developments pose a challenge to economics and political science to develop theoretical concepts that can explain the dynamics of these system transformation processes and that can suggest strategies for a successfitl management transition and ensure stability. We propose to take the first steps towards developing such a conceptual framework by interpreting elements of relevant economic and political theory. We shall do this by first taking a critical look at relevant theoretical concepts in political science and economics before, in part III outlining in a rathertentative and general way one proposal for an integrated approach.