The present essay outlines the defining features of the capitalist system, the evolution of the Western political models during history and the way these have reflected in the business and financial reporting models. The differences between the Anglo-Saxon business model and the continental...

In my book entitled Socialism, Economic Calculation and Entrepreneurship I explain in theoretical terms what socialism is and why it is an intellectual error, a scientific impossibility, why the socialism which still exists, despite the fall of the Berlin Wall, in the form of economic...

This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Korea. It stylizes the Malthusian-phase of East Asian economies as peasant-based economies in which...

This paper reviews the presentations and discussions had at the conference on “Jobs And The Future of the US Economy: Possibilities and Limits” held at Howard University shortly after the late 2000’s financial crisis. The paper begins with the historical context in which the conference was...

In recent years there has been a widespread perception of climate change as a growing threat to security, both at the individual level and at the international level. This increased attention is mainly due to scientific research, which indicates that climate change is a process already underway,...

After Old Institutional economics lost its dominance after the 2nd World War, it entered a new revival period; the beginning of this period was marked with Oliver Williamson’s (1975) use of “New Institutional Economics” (NIE) as a new term in his studies. New Institutional Economics...