This paper explains Dr. Simon's comments on Peter Boettke's paper, "The New Comparitive Political Economy". It explores (in three points) more practical points for those who are trying to not only study development but also to make it happen.
1. Exploring Peter Boettke's "greatest mistake of the last hundred years in economics".
2. The second issue of concern or issue for further exploration with Dr. Boettke's paper is discussion of the word "institutions." From Dr. Simon's perspective this is a bit of a general term. What institutions? It’s not just general it makes creating them sound just a little too easy.
3. The last point he makess to question is that if we get the prices, the institutions and the culture right, that is what we in terms of development specialists need to support those systems that create economic growth?