According to quite a number of scholars, even non-Austrian, some theories of Austrian school of economic thought do provide an increasingly relevant material to explain recent boom-and-bust economic cycles as well as financial crises. However, I argue, this development is not adequately...

The paper aims to show a comprehensive insight into the history of business economics science in the Czech Republic, marginally also on the European continent and worldwide. It depicts business economics in its beginning as a doctrine that was largely underestimated. This science was, for a very...

The article describes the nature and importance of the concept of private property. It traces back the logical necessity of the respect for property as a safeguard of both peace and prosperity. Then, it surveys arguments in favor of intellectual property that allegedly coincide with those of the...

Currently, if speaking about the theoretical background of the environmental policy, most of environmental economists have neoclassical economics in their minds. State regulation of private activities by means of restrictions, commands, taxes and fees is usually seen as the only one way to reach...

The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the historical evolution of basic theoretical concepts like the theory of firm, the theory of market process and the...

The introductory parts of the paper analyse development of a local variety of capitalism in Slovakia from the institutional and evolutionary perspective. In early transition period privatisation policies were aimed at development of a liberal version of capitalism, based on fluid capital...

This paper deals with the recent empirical phenomenon of intraindustry trade, i.e. trade in similar goods between similar countries. It treats this phenomenon from the point of view of the theory of structure of production, highlighting the importance of sequential nature of production and...

What is the role of entrepreneurship in economic development from the perspective of neo-Austrian and new institutional economics and what is the difference between these approaches? Neo-Austrian economists claim that economic development is caused by entrepreneurial discovery. New institutional...

The aim of the article is to explore how the results of the U. S. subprime mortgage crisis influenced economic policy of governments in highly developed countries. It analyses consequences of a state intervention especially for government budgets and a rise of government debts. Then the article...

The beginning of modern times, in contrast to the previous era, is still characterized by a growing importance of labour in human life. The article is focused on the new social policy and the evolution of institutions called workhouses and house of corrections which illustrate the growing...