Although decision makers are often reported to have difficulties in making comparisons between multi-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and brain sciences to assess whether, and for what reasons,...

The paper unravels the subversive nature of Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, 'creative destruction’ leads to economic development 'from within’...

„Welfare“ and „wealth“ are discussed as central economic notions in the context of the history of economic thought. One focus is laid on the limits to economic growth discussed already by 18th century Physiocrats and in the 19th century especially by John Stuart Mill and W. Stanley...