This essay attempts to understand János Kornai’s works from a political economy perspective. It argues that Kornai has significantly contributed to the formation of a new paradigm of political economy. The main endeavor of Kornai has been the combination of analytical concepts of economics...

Hayek’s theory of socio-cultural evolution is a generalization of his theory on spontaneous market order. Hayek explains both the emergence of market and social institutions serving as a social basis for that order within the framework of a unified evolutionary logic. This logic interprets the...

Hayek's theory of socio-cultural evolution is a generalization of his theory on spontaneous market order. Hayek explains both the emergence of market and social institutions serving as a social basis for that order within the framework of a unified evolutionary logic. This logic interprets the...

The collapse of one-party dictatorship and centrally planned economy based on state ownership opened up the pathways for the formation of different postsocialist systems. Among other variants in a certain number of postsocialist states, democratic capitalism could emerge. Recently the system of...

Sociological theory adapted an evolutionary theoretical framework for understanding social change in the 19th century. Later on the evolutionary approach has been challenged, modified or refused. This paper examines the controversy between anti-evolutionary and neoevolutionary theories....

The paper examines theories on the relationship of market and democracy. Four theorems may be distinguished: (1) The necessity theorem: market (M) is the necessary condition of democracy (D) ([M→D]+). (2) The inequality theorem: market undermines democracy ([M→D]-). (3) The optimality...