This article uses the global value chain approach to analyse the upgrading trajectories of leading apparel exporters adapting to the end of textile and apparel quotas and the economic recession. These events have been coupled by the consolidation and reconfiguration of global supply chains....

This paper demonstrates that the current economic crisis has its roots in the evolution of the global economy during the 1960s. The gradual increase of US debt from the 1960s accompanied by the deficit in the US trade balance due to international competition from EU, Japan, and later from China...

European monetary history prior to 1950 presents many attempts at international monetary coordination, but none were as bold and as far reaching as the European Monetary Union envisioned in the Delors Report of 1989 and enacted through the 1991 Treaty on the European Union in Maastricht. This...

Purpose – This paper is devoted to the question of what motivates man in his pursuit of economic activities. Particular attention is given to the notion that economic activities of individuals may not be motivated by their self-interest alone. Design/methodology/approach – Using literary...

Purpose – To analyse some proposals of the Younger German Historical School as to how to reduce unemployment and to examine them with regard to their application to contemporary unemployment. The more general issue of this paper is: Can we learn from the Younger Historical School how to solve...

Purpose – To establish the place of Karl Knies in the history of economics of the German-speaking academics. Design/methodology/approach – Knies's economics teaching is summarized on the basis of a student's notebook of the course on general economics in Heidelberg, 1886. Knies's relation...

Purpose – This paper is an attempt to sketch the influence of the German Historical School on the development of Russian economic thought at the boundary of the nineteenth and twentieth centuries and, particularly, on the forming of its socio-ethical trend with an alternative approach in...

Purpose – The purpose of this paper is to examine the extent to which Benjamin Franklin's understanding of political economy was shaped by his association with the French school of writers known as physiocrats. Design/methodology/approach – The paper works from direct statements by Franklin...

Purpose – The purpose of this paper is to compare and contrast three-factor models of boom and bust from Henry George, Knut Wicksell and Mason Gaffney. Design/methodology/approach – The approach takes the form of an analysis and discussion and mathematical appendix. Findings – It was found...

Building on the view that financial systems from contract and trading structures through regulation are artifacts of law and politics, this paper analyzes the fundamental reasons for the observed hierarchy in all financial systems. Why are financial systems hierarchical? The answer offered here...