The author raises doubts about a sense of "catching up" and an idolatry of HDP´s growth. His argumentation is based on the longitudinal international research of the link "economics-happiness" at the frontier between economics and psychology. The rationality of economic science "more is better"...

The author undertakes in his essay a risky experiment as he tries to look at the present-time-economic-transformations in the view of the great thinker of 18th century, Dr. Bernard Mandeville, who famed by his Fable of the Bees, or Private Vices and Public Benefits. The philosophy of Mandeville,...

Doubts about the intrinsic value of economic performance are nothing new (T.Scitovsky, J.Galbraith). The paper starts with a criticism of „catching up“ models and a „puzzle“ of East Germans dissatisfaction with a rise of welfare after the Berlin wall’s fall. Author provides a sketch of...

We survey theories of impacts of budgetary rules in the budget process, review empirical evidence and on the basis of comparative studies attempt to design the optimal shape of the Czech budgetary rules. The theoretical part focuses on conventional and non-intuitive effects of spending caps and...

Mechanisms for implementing community programs resulting from general principles of Regulation (EC, Euratom) No 1605/2002 on the Financial Regulation applicable to the general budget of the European Communities and Commission Regulation (EC, Euratom) No 2342/2002 laying down detailed rules for...

The paper analyzes an important part of the institutional quality - regulation and studies relation between the regulatory environment and the bureaucratic barriers. The analysis is based on theoretical models of the comparative institutional economics. In the paper, we discuss possibilities of...

The article is based on the thesis that institutional quality influences the economic performance. From this point of view under certain circumstance the government policy is able to increase efficiency and performance of economies through creation, maintenance and cultivation of appropriate...