It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious...

Market failure and the need for stronger state involvement in the economy has become the dominant perspective in the interpretation of the subprime crisis. After providing a brief description of the various stages of the crisis, the paper challenges this view by showing how monetary, fiscal and...

Introduction -- Methodological perspective -- Market power: antitrust policy and economic regulation -- Social regulation: imperfect information and externalities -- Public production -- Policies to correct market failures: synthesis and assessment -- Market failure and social goals policies:...

The M-form society: what it is, how it works. The M-form society: why we need it -- The M-form society: lessons from business management -- Elements of the M-form: the role of government and trade associations -- Elements of the M-form: the role of the banks -- The M-form in action:...