Can tight and centralized financial regulation prevent financial crises? Governments usually respond to financial crises with tightening and centralizing financial regulation. In this paper, we explore the historical parallels between the governmental responses to the financial crises at the end...

Karel Engliš's teleology emphasizes realistic assumption of virtually acting man. Virtually acting man theoretical assumption is however quite contrary to the mathematical and statistical methods widely used in modern microeconomic analysis. In this paper, I argue that the evidence of...

Can corruption improve economic efficiency? Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems...

Did the unbundling the railways in the Czech Republic ensure efficient railway transportation? The separation of railway operators and infrastructure is supposed to ensure efficient railway transportation. However, the experience with the unbundling of the railway operation in the Czech Republic...

Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, chap 5). The modern Public Choice proponents argue that corruption might influence the efficiency of the rule of law. While Chicago Public Choice scholars...

Does unbundling ensure efficient railway transportation? The separation of railway operators and infrastructure is supposed to ensure efficient railway transportation. However, the experience with the unbundling of the railway operation in the Czech Republic suggests that unbundling does not...

Can corruption improve economic efficiency? Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems...

What is the role of entrepreneurship in economic development from the perspective of neo-austrian and new institutional economics and what is the difference between these approaches? Neo-austrian economists claim that economic development is caused by entrepreneurial discovery. New institutional...