Mit wenigen Ausnahmen haben alle Regierungen mit der staatlichen Geldschöpfungsmacht die Bürger durch Verschlechterung der Kaufkraft um einen Teil ihrer Ersparnisse gebracht, in Extremfällen sogar soziale Verwüstung und großes Elend in der Gesellschaft angerichtet. Auch in Zukunft werden...

Recently, Aoki proposed the concept of substantive institutions which relates outcomes of strategic interaction with public representations of equilibrium states of games. I argue that the Aoki model can be grounded in theories of distributed cognition and performativity, which I put into the...

In recent sociological studies of markets, especially financial markets, researchers have argued that economics is performative (MacKenzie, Callon et al.). By this they refer to the observation that theories such as the Black-Scholes formula do not simply describe reality, but contributed to the...

In recent extensions of the Darwinian paradigm into economics, the replicator-interactor duality looms large. I propose a strictly naturalistic approach to this duality in the context of the theory of institutions, which means that its use is seen as being always and necessarily dependent on...

The concepts of quot;social capitalquot; and quot;networksquot; gain increasing acceptance even in core branches of economics as growth theory and international trade. International organizations have begun to condition credit approval on the availability of social capital in lender communities....

Robert Neild (born 1924) has made a major contribution to economics and to peace studies. This paper provides a brief sketch of Neild's life and work. While noting his research in economic policy and peace studies, this essay devotes more attention to his largely-unnoticed contributions to...

Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates from inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the...

I discuss Aoki's fundamental model of institutions in its most recent version, building on a comment that Aoki contributed to a paper by Hindriks and Guala in 2015. These authors advance a ‘rules in equilibrium' approach to institutions that claims to reduce a Searlian social ontology of...