Are newly established institutions capable of shaping actors' strategies and coordinating behavior on a single path? Contrary to punctuated equilibrium analyses, this paper suggests that the constraining capacity of a range of newly established institutions in new European capitalisms is weak...

Before economists and sociologists came up with their own definitions of the term "capital", it was commonly understood as money invested in businesses by their owners or shareholders, and it continues to be understood this way in everyday business practice. In a recent article, Geoffrey Hodgson...

Mainstream economics has been running the gauntlet of adverse criticism for decades. These critiques claim as a message of central importance that mainstream economics has lost its relevance as for understanding reality. By making a brief comparison between the methodological strategies of the...