In this paper I am trying to provide the reader with a brief overview of contemporary discussion about recently frequently mentioned topic of economics and happiness. In the last few years the number of publications related to happiness from the economic perspective growth exponentially. As the...

In this paper I am trying to provide the reader with a brief overview of contemporary discussion about recently frequently mentioned topic of economics and happiness. In the last few years the number of publications related to happiness from the economic perspective growth exponentially. As the...

This paper summarizes the major events in the recent history of modelling human decisions under risk. After presenting the basics of expected utility theory, the key pieces of evidence are described which showed that under certain circumstances, this theory is not descriptively valid. The most...

This paper pits expected utility theory and cumulative prospect theory against each other as regards their descriptive accuracy. Some older as well as newer pieces of evidence are described which show that under certain circumstances, expected utility theory is not descriptively valid. The most...

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

The economic development points out the importance of the development study of sectors and branches of economics, because they can deepen or moderate volatility of the economic cycle. The article aims at mapping the rate of unemployment in the primary, secondary and tertiary sector in the Czech...

Economic growth of the Czech Republic strongly accelerated in the years 2005-2007. Substantial decline of economic activity took place at the end of 2008 and in the year 2009. On the supply side the main contributing factors were labour and total factor productivity. On the demand side the...

The minimum wage has been a controversial issue since 1912, when Massachusetts (USA) passed the first state minimum wage act. The Czech Republic has had a statutory national minimum wage since 1990 (Act no. 65/1965 Coll., or the Labour Code; the specific minimum wage levels and the conditions for...