The paper tries to explain the extraordinary expansion in the 20th century of the English-born neoclassical economics and at the same time the decline of the German historical tradition. Methodology used in this paper is evolutionary institutionalist, which can be called, following American...

The profession of economics does not fulfill its social function to provide people a correct understanding of economic phenomena. In other words, the institution of economics does not work properly. George Soros makes this conclusion in his lectures at the Central European University (Soros,...

The article attempts to justify an alternative to conventional methodology of economics, as well as make a corresponding revision of the history of this discipline. Historical analysis is based in particular on the autobiographies and biographies of key personages in the history of the...

The movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics...

For those who knew the behavioural rules of various participants in the U.S. housing market, it was quite easy to recognize the swelling bubble in this market and predict that it will inevitably burst. And the only ones who could know these rules, except those who directly apply them in...

In this article, I renew the "dispute over methods" (Methodenstreit) taking into account contemporary achievements of the philosophy of science. The current dominant understanding of what is "scientific" in economics is derived from the classical natural science. Economists ignore the fact that...

One had to know the rules governing diverse actors’ behaviour on the USA housing market to recognize the enlarging bubble and foresee an inevitable crash. Apart from the market actors, the researchers being in direct contacts with these actors (for example, conducting in-depth interviews)...

The profession of economics does not fulfill its social function to provide people a correct understanding of economic phenomena. In other words, the institution of economics does not work properly. George Soros makes this conclusion in his lectures at the Central European University (Soros,...

This paper proposes to reconsider the methodology (in the first part of the paper) and the history (in the second part of the paper) of economics on the basis of the constructivist institutionalism practiced at present in political science. In the third part of the paper a project for the...

The paper is the second message (the first was called “Toward another economic science (and thus toward another institution of this science)”) of the author to the French heterodox economists (post-Keynesians, Marxists, regulationists, conventionalists, socio-economists) which has the aim to...