This article discusses the two main models of complete markets, the criticism to them that form the early Arrow-Debreu theory, as well as the supplements and the shortcomings of the so-called revised version of the theory. We underline the most important consequences from this theory and present...

This article discusses the two main models of complete markets, the criticism to them that form the early Arrow-Debreu theory, as well as the supplements and the shortcomings of the so-called revised version of the theory. We underline the most important consequences from this theory and present...

The article deals with the traditional model of corporate ownership, named “capital-centered”, which corresponds to the Anglo-Saxon model of corporate governance. The model is unfolded by reviewing the problems stemming from the separation of ownership and control in the corporate form in...

This article to dedicated to the 230th anniversary of the publishing of Adam Smith`s work “The Wealth of Nations” (9 March, 1776). The subject of our study is the liberal world of Smith and social welfare. We highlight his contribution as a founder of the “homo economiqus” model, which...

In the contemporary scientific and socio-political space the works of K. Marx are in total oblivion. Even more, during the whole 20th century in the Western countries, and lately in the Eastern ones, he is anathematized politically and scientifically as an evil spirit. And still - is the...

Criticism of the fundamental classical postulates is the main focus of attention of the institutional theory. In their works, a number of representatives of the institutionalism have expresses their strong disagreement with the hedonistic principles of profit and loss as being the primary...

The institutional theory is, to a great extent, filled with criticism of the main classical postulates. Many institutionalists question in their works the hedonistic principle of profit and loss as a main motivating factor for human behavior. The main classical concepts result from relatively...

160 anniversary of academician Ivan Evstratiev Geshov.

The paper is dedicated to the 230 anniversary of the publication of Adam Smith's masterpiece The Wealth of Nations (March 1776). The object of the study is the liberal world of Smith and social welfare. His contribution as the first founder of the model of “Home Economicus” is pointed out....

The article is an answer to the publication The Ideas of Ludwig von Mises for the Development of the Austrian Economic School by N. Gerchev (iss. 4/ 2005), constructed as a critical analysis of positions and statements, presented in our study on the Austrian School. An attitude has been taken...