The North Korean economy has been a statistical black hole for decades but is undergoing substantial transformations. Rapid post-war industrialisation was not sustained beyond the mid-1960s and South Korea’s economy far outpaced North Korea’s during the next three decades, during which trend...

Competing definitions of justice in Plato's Republic and Aristotle's Politics indicate the existence of two distinct economic systems with different normative priorities. The three-class society of the Platonic economy (guardians, auxiliaries, producers) gives rise to guardians who by virtue are...

In this paper, we analyze the effects of religious identity - defined both as personal identification with a religious tradition and institutional ideas on the provision of public goods - on attitudes toward central government. We explore whether citizens belonging to collectivist rather than...

The paper deals with the problems of diverging developmental trajectories of former Socialist economies of the Central and South-Eastern European countries as well as of the former USSR republics. The purpose is exploring the developmental trends of three groups of economies - ECE, Balkans and...

In this study I review the main scientific contributions of Minsky and other scholars to the financial instability and crisis issues, and the role of institutions in modeling the medium and long financial and business waves. The topics developed in this paper are the following: the relationships...

30 Jahre nach dem Mauerfall wurde keine volle Konvergenz der Wirtschaftsleistung und der Lebensverhältnisse zwischen Ost- und Westdeutschland erreicht. Das Papier zeigt die unvollständige Konvergenz bei Produktivität, Einkommen, Steueraufkommen und Vermögen auf. Es diskutiert mögliche...

Low Female Labor Force Participation (FLFP) constitutes a foregone opportunity at both the macro and at the micro levels, potentially increasing the vulnerability of households and lowering the long-run development perspectives of a country. Most international organizations and national policy...

The Degrowth movement advocates a radical shift from our capitalist economic system to one based on human needs, planetary boundaries, and economic democracy. The literature, however, often neglects detailing the concrete coordination mechanisms of a Degrowth economy. This paper addresses this...

The aim of this paper is to analyze how different models of transformation in Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) increased or decreased the risk of being stuck in the middle-income trap (MIT). The key finding is that the CEE and CIS countries are,...

This paper argues that the traditional societal contract that underlies the market economy has run its course and needs to be replaced by a new contract, based on a new conception of the "empowering economy." Whereas different societal contracts are relevant to different societies, there must be...