Max Weber's relationship to economics in general and to the Austrian School in particular has received more attention recently. However, this literature as conducted by Weber scholars and by Austrian economists exhibits two major deficiencies. First, the studies are often either purely...

Ronald Coase (1910-2013), who sadly died at the remarkable age of 102, made significant contributions to economics based on common sense and the detailed study of his topics. Coase was awarded the Nobel Prize in Economic Sciences in 1991 “for his discovery and clarification of the significance...

There are several ways to incorporate evolutionary concepts into economic thinking. This article reviews the most important transfers of this kind into evolutionary economics. It broadly differentiates between approaches that draw on an analogy construction to the biological sphere, those that...

The new institutional economics has one of its roots in evolutionary thinking. The idea is that there is competition among organizational forms. Some forms spread faster than others and thereby displace and eventually destroy the less well adapted forms. In the end, the most 'efficient'...