The paper approaches the "market versus state" issue from the perspective of constitutional political economy, a research program that has been advanced as a principal alternative to traditional welfare economics and its perspective on the relation between market and state. Constitutional...

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach assumes this property of micro-level interactions more strongly conditions macro-level outcomes compared to the precise details of individual choice...

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared to the precise details of individual choice...

Dieses Diskussionspapier ist als "Versuch" anzusehen, über einige Grundlagen unserer Wissenschaft zu schreiben, um bei der derzeitigen Konfrontation mit deprimierenden wirtschaftlichen Fakten und Perspektiven die fatale Wirkung von Begrifflichkeiten aufzuzeigen, die - unscharf bedacht - die...