Kapitalismus sieht sich seit je her drei moralisch artikulierten Vorwürfen ausgesetzt: Er führe (a) zur Verelendung der Arbeiter, (b) zur Zerstörung der Umwelt und (c) zum Verfall der Sitten. Zieht man empirisch Bilanz, sind nicht alle dieser Vorwürfe berechtigt, ganz im Gegenteil: (a) Im...

Kapitalismus sieht sich seit je her drei moralisch artikulierten Vorwürfen ausgesetzt: Er führe (a) zur Verelendung der Arbeiter, (b) zur Zerstörung der Umwelt und (c) zum Verfall der Sitten. Zieht man empirisch Bilanz, sind nicht alle dieser Vorwürfe berechtigt, ganz im Gegenteil: (a) Im...

Economic growth has become a prominent political goal worldwide, despite its severe conflicts with ecological sustainability. Are "growth policies" only a question of political or individual will, or do "growth imperatives" exist that make them "inescapable"? We structure the debate along two...

The external circumstances for universities have been changing rapidly. In order to be competitive, survive, and flourish, universities have shown a growing enthusiasm to generate financial revenues externally. The literature refers to this phenomenon as academic capitalism, defined as the...

The enterprise is an historical phenomenon specific to capitalism. It is a fictional agent created by accounting and sanctioned by law. It is based on capital and its purpose is to yield monetary profit. Within the framework of the market economy, production is organized according to the...

While trust in the business sector is crucial for well-functioning markets, there is surprisingly little empirical work on its sources. Available research recognises social trust as a major force explaining confidence in political institutions. Regulation is frequently advocated to foster trust...

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...

The present study adds to the ongoing discussions on the economic and industrial change in postcommunist Central Europe by investigating in-depth the case of a relatively successful development of two large domestic IT firms from Poland. The case is theoretically interesting because it calls...

We take up the hypothesis that risk premiums on equities are embodying the costs incurred by equity holders in monitoring the firms which they have invested in. This idea is a key ingredient in our construction of a two sector neoclassical model with widget producing firms and commercial banks....

There is enough consensus to show that India's economic performance since 1991 is a direct result of the economic liberalization measures that have been put in place. One of the outcomes of this improved performance is the growth of innovations in the country. This was accompanied by or caused...