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...

The notion of 'transnational governance' refers to systems in which private actors and other non- state institutions participate in setting and enforcing norms for cross-border transactions in trade, finance and other business. While the term is modern, the co-evolution of world markets and...

Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This...

The paper shows the role played by the concept of parallel money in understanding the evolution of the monetary circulation in Russia in the 19th and the beginning of the 20th century. As evidenced by historical investigations, the experience of parallel money circulation is both theoretically...

Modernity is usually thought as a complex society with clearly differentiated spheres of everyday life. It means, in particular, that economic rules do not interfere with the norms structuring political, social, scientific and other interactions. The complex, differentiated society sharply...

The article will focus on regional diversity of the Polish Labor Market from institutional perspective. The Polish Labor Market is geographically diverse in terms of unemployment and employment rates, and also in terms of economic development. At the end of 2013 the difference between the lowest...

Despite the fact that the significance of institutional economics is commonly recognized, the uncertainty of basic concepts of institutional economics – institutions – and its investigation sphere is widely mentioned today. The paper aims to trace the process of evolution in the...

This essay argues that articles in economics, especially in the fields of evolutionary and institutional economics, are as much cited in biology as in economics. The citation analysis conducted in the essay suggests that economics is now becoming the Mecca of biology.

The article shows that mainstream economics, which now includes such current as new institutional economics, is the result of an evolution shaped by three institutions (capitalism, university and mathematics) by imposing to the profession of economists their founding beliefs. These beliefs are:...