The concepts of quot;social capitalquot; and quot;networksquot; gain increasing acceptance even in core branches of economics as growth theory and international trade. International organizations have begun to condition credit approval on the availability of social capital in lender communities....

Ludwig von Mises argued that capital goods were 'conservative elements' that constrain future production decisions. Similarly, social capital and institutions also constrain future production decisions. These insights are applied to the institutional transformation of the post-Reconstruction...

This essay examines economic stagnation by extending the argument that capital goods and "conservative elements" to the analysis of social capital and institutions in the post-Reconstruction South. It is argued that the structure of social capital that developed in the South was inappropriate to...

This paper analyzes the relationship between income inequality and economic growth within the United States using state-level data. It describes income inequality in the U.S. since 1960, then employs a two-step causal model to test the institutionalist contention that income inequality leads to...

2016 jährte sich das Erscheinen des Artikels von John Maurice Clark mit dem in der Überschrift genannten Titel im Journal of Political Economy zum hundertsten Mal. Clark legt in diesem Artikel seine Vorstellungen zur Entwicklung einer "economics of responsibility" und zur Wahrnehmung von...