Children are nowadays seen as self-reliant subjects able to articulate their wishes and to participate in family decisions. International studies have shown that children in Austria participate in family affairs only to a moderate extent. National studies just as well indicate that there is much...

Abstract: This paper deals with similarities and differences between new economic sociology (NES) and new institu-tional economics (NIE). We start with brief reports on the basic ideas of NES and NIE. Regarding the latter, we concentrate on NIE in the sense of Oliver Williamson who introduced...

The efficiency of institutions, understood in the neoclassical sense, i.e., as the result of constraint optimization of a neoclassical economy is pointless from the perspective of the New Institutional Economics, because the latter assumes incomplete foresight. For such a world one cannot use...

This paper starts with a brief description of the situation before the establishment of the European Monetary Union (EMU), i.e., the problems of the European Monetary System (EMS) which was established in 1979 and was in need of repair. The paper then deals with the various possibilities of...