Exploring knowledge in monetary policy process stands to benefit by departing from conceptualizing knowledge as an objective depiction of reality, a neutral language of science underpinning technocratic policy-making. This paper proposes a postpositivist perspective, approaching knowledge...

Bruce Caldwell argues that Hayek eventually favoured an evolutionary response, and he endorses this recommendation. I am increasingly inclined to agree, although I believe that the concept of evolution needs to be handled with some care. Hayek himself was cautious, not least in The Sensory...

‘E-commerce’ is conventionally understood to refer to a discrete set of Internet-related business practices, with discussions focused on their potential to improve the efficiency and reach of business. However, there is evidence that in practice, the term ‘e-commerce’ is applied to a...

Bowles and Gintis have, over the last twenty-five years, contributed to a Post Walrasian approach to economics drawing upon this in making policy recommendations concerning institutional design and the distribution of productive resources in society. We establish that Post Walrasian Economics is...

The present study addresses the question of uncertainty in individual deliberation in Rousseau’s philosophy. Accordingly, it intends to consider in a new light his account of virtue and citizenship which cannot possibly be defined as systematic obedience to the general will. Weakness of the...

Efficiency is generally regarded as a value-neutral concept, concerned with assessing whether an economy produces at its possibility frontier, that is, generating maximum possible market output with given resources. Efficiency analysis generally rejects concerns with distribution – often...

Ecological questions have proven particularly fruitful to illustrate Luhmann's theory of society as an integrative perspective cutting across the scientific, economic, legal, and political domains. In this paper, we will discuss the development of carbon trading as a case study of how reflexive...

The premise on which this paper builds is that modern economists unduly neglect history. The paper aims to support the argument that this is undesirable by looking at past episodes in the development of economic thought where economics has benefited from a historical approach. The first example...

This paper wants to answer the following question: can economics contribute to a morally decent life? Economics as a science originates from modern moral philosophy. This discipline analyses human nature and its consequences for the way in which social order is maintained. But as economics...