This essay will critically evaluate positions that have emerged in the literature in favor of the welfare state. The downsizing of the welfare state, which would, inter alia, to reduce government spending, provide greater scope for the free market. The transition from a welfare system to a...

The present work intends to bring few clarifications, hopefully useful, in the general problem of economic competition. As it is probably already known by the reader, most of the XXth century studies on this subject are almost mysteriously dominated by the neoclassical writers\\\'s (leaders...

Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...

Die jüngsten Reformen im Europäischen Wettbewerbsrecht geben Anlaß, sich erneut mit Grundsatzfragen der Wettbewerbspolitik zu beschäftigen. Unter Rückgriff auf die moderne Wettbewerbstheorie, die Industrie- und die Neue Institutionenökonomik werden in diesem Paper die Grundlagen eines...