A number of commentators have argued that technological innovation is about to change the institutional structure of the retail payments system. Through the potential private issue of currency via new electronic payments systems – electronic money – individuals will create currencies based...

Lorsque Carl Menger décède en 1921, son oeuvre économique est associée à son ouvrage de 1871, les Grundsaetze. Depuis sa retraite en 1903, Menger a refusé toute nouvelle publication de cet ouvrage, consacrant sa recherche à la psychologie en particulier. Son fils Karl Menger reprend les...

It is traditionally claimed that the State has three main categories of policies to implement: allocation, distribution and stabilization policies. In the present chapter we will be concerned only with stabilization policies or, more generally, with the role public policies may have in...

This paper utilises the contributions of A. Schutz and F. Hayek to understanding the entrepreneur's subjective interpretation, innovation and coordination. In terms of Schutz's phenomenology, this paper argues that intersubjectivity allows economic activities to be coordinated. When the...