Actual economic activity often is too large or abstract for students of economics to understand. It has been the experience of the authors that when the economy is explained in terms of an autonomous classroom, students better understand that the economy is about the social process of...

Economists in the institutional tradition have spent a great deal of time dealing with the notions of governance and the state. Yet that school of thought has yet to develop a complete unified theory of either governance or the state. In the work Commons and Veblen we see very different levels...