This paper argues that the "Economics of Crime" concentrates too much on punishment as a policy to fight crime, which is unwise for several reasons. There are important instances in which punishment simply cannot reduce crime. Several feasible alternatives to punishment exist, such as offering...

Four types of economicsʺ relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...

The goal of the rich countries should be to aid the poor countries to increase their standard of living but not to increase their holding of weapons. It is shown that a basic conflict of goals arises. The structure of "consumption" of the recipient countries cannot be influenced by giving the...

Empirische Beobachtungen zeigen, daß der Staat die wirtschaftliche Aktivität oft nicht stabilisiert, sondern im Gegenteil zusätzliche Schwankungen erzeugt. Politische Konjunkturzyklen entstehen insbesondere beim Versuch der Regierungen, zum Wahlzeitpunkt eine günstige Wirtschaftslage...