Mozambique is a low-income, Southern African nation with an estimated population of 28 million people, 67 per cent of whom live in rural areas. Women comprise 51 per cent of the population, and 45 per cent of the population are under 15 years old (World Bank 2015). [...]

Zimbabwe is a low-income, land-locked country in Southern Africa with an estimated population of 13,061,239 people, according to the latest census (ZIMSTAT 2012). Two thirds (67 per cent) of Zimbabweans live in rural areas, and 51.9 per cent of the total population are female (ibid.). Between...

Which are the basic strategic options of young scientists in the process of scientific competition? Which are the basic structural conditions influencing the outcome of strategic actions? What strategic choices should be made depending on given structural conditions? In thispaper we approach...

The term 'Institutional Economics' has been applied to some of capitalism's strongest critics as well as its most ardent apologists. This paradox in terms has bred contradictory literature in development economics, some declaring the death of this line of thought while others herald its...

The sciences tell us that fears are physical feelings and mental emotions that play a key role in any society. Not many issues related to fear are explored by economists today. The aim of this paper is to go backwards through the history of economic thought, and examine if and how Adam Smith...

Starting from the mid-nineteenth century, this paper analyzes two periods of financial instability connected with financial globalization. The first culminates with the 1929 crisis, while the second characterizes the more recent experience starting from the 1970s. The period in between is...

This paper argues that a hierarchy of ideals exists in market interactions that sets the benchmark on the norm of fairness associated with these interactions, thus affecting pricing decisions associated with market exchange. As norms emerge, an ideal determines the criteria of optimal behavior...

This paper presents a general equilibrium model with technological uncertainty, financial markets and imperfect information. The future consists of uncertain environments that are more or less clearly distinguishable (measurable). This limits the possibilities of specialization and...