This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among...

The movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics...

This paper discusses the ethical void in Capitalism which does not look prominent in welfare societies and states. But, its effects become more eminent in tough economic conditions. Unbridled pursuit of self interest, moral relativism, incentive-led economic choices and apathy to communal...

This paper draws on institutional and evolutionary economics and contributes to an approach to environmental policy which diverges from mainstream prescriptions. The 'socio-technical system' is the core concept: this is a complex made of co-evolving institutions, technologies, markets and actors...

The ownership has a very controversial place in the economics' history. While it was placed in the centre of the so called "socialist political economy", (actually, the issue of its abolishment), it is still taken for granted in the orthodox economics and little attention is paid on its...

The present paper attempts to assess whether at all and in what ways the development of alternative capital markets may help an additional mobilisation of the given economy's domestic financial resources, and, consequently, contribute significantly to economic development. Against the...

This paper shows how economic theory and history can be matched with the use of heterodox theories. This matching between history and economics is needed for a better comprehension of reality. Cliometrics, regulationism, institutional economics are some of the tentative approaches that have been...

Professor Narmadeshwar Jha was a noted scholar on History of Economic Thought that took its shape under the influence of Alfred Marshall. His widely referred book - The Age of Marshall: Aspects of British Economic Thought, 1890-1915 – was written under the supervision of Professor A.J. Brown...

The aim of this paper is to offer a general overview of the institutionalist approach to economics, hoping to make clear some of its main advantages as a framework of study of the economic process. In doing so, a brief exposition about some of the weaknesses of neoclassical economics will be...

The paper explores the link between authoritative media, which is called the public court in the paper, and economic prosperity. Three types of evidence are used. First, arguments of the superiority of the public court over traditional media are provided. Second, a formal model shows a causal...