"May 5, 2018 marked the 200th anniversary of the birth of Karl Heinrich Marx, German scientist, philosopher, economist …-economic character, and formulated scientific and philosophical approaches for its cognition. Marx also developed methodological clues … mediate them, which are of critical relevance today. Before Marx, political economy was an eclectic combination of separate …

capitalism during the second half of the twentieth century. It argues that economics should centre on institutions - the durable … Schumpeterian perspectives. The nature of institutions in the growth and instability of capitalism is then explored with reference … author concludes, using institutional-evolutionary themes of political economy, that the evolution of modern capitalism is …