The voluntary supply of collective goods by nonprofit institutions has deserved little attention in the Public Choice literature, and the clasical nonprofits approach does not consider nonprofits supply as a collective decision, although individuals, either as consumers or as donors, are in the...

A common assumption, often accepted by regulators – that individuals act only in their narrow self-interest – is false. Evidence from both the natural and social sciences suggests that most people are strongly motivated to cooperate and help one another. Organizations (such as Toyota and...

This paper discusses how the theory on the role of institutions in development can be improved, by critically examining the current orthodox discourse on institutions. To understand the relationship between institutions and economic development, it is necessary to have some balance between...

In 1980, Venezuelan income per capita in dollars was 1.4 times higher than that of Colombia, but in 2007, this ratio was reversed and the Colombian income was 1.1 higher than that of Venezuela. This result deserves an explanation, as both countries made similar structural reforms to allow a free...

This article represents an approach to solve the key problem of the economic development theory, a mathematic description of the social and economic system during a long period of time, where one of the most important system property is manifested: a transition from a stable condition, economic...

This paper is based on the hypothesis that to feel individually and collectively respected is vital to private and public happiness because, as well as the sensation of comfort that it produces, respect creates a favorable context both for the acquisition of capabilities and for the opportunity...

In recent years, there has been a plethora of econometric literature on the determinants of growth. However, the lack of a theory that integrates economic, political and cultural factors does not allow an adequate interpretation of these new results. This article proposes a conceptual framework...

Colombia is a society with grave problems of social exclusion. However it is possible to work toward social inclusion if the political and economic forces of the country restructured democratically. It is necessary to create a comprehensive system of social protection and social security, adjust...

La actividad filantrópica de Barón Maurice de Hirsch está claramente signada por una característica distintiva: no proveer caridad sino intentar la rehabilitación económica de los beneficiarios. ¿Cómo propone lograrlo? Hirsch sugiere sistemáticamente que la educación y el entrenamiento...