In contemporary non-mainstream economic debate, it is widely thought that the functioning of a market economy needs a set of rules (i.e. institutions) which bind agents in their behaviour, allowing efficient outcomes. This idea is contrary to the General Equilibrium Model (GEM) where markets are...

Impressive and authoritative, this essential book brings together a collection of essays in honour of Peter Groenewegen, one of the most distinguished historians of economic thought of a generation. His work on a wide range of economic theorists such as Adam Smith, François Quesnay and Alfred...

The entrepreneur has been neglected over the years in formal economic theorizing. Previously there has been only eclectic theories such as human capital theory and network dynamics which discuss certain perspectives of entrepreneurial behaviour. This insightful book closes this gap in...

Modern economics has, at its foundation, scholarly contributions from many prominent Scottish thinkers. This revealing work examines the roots of this great tradition, places in perspective a selection of authors, and assesses their contribution over three centuries in the light of a distinctive...

Throughout the history of economic ideas, it has often been asserted that experimentation is impossible, yet, in fact, history shows that the idea of 'experimentation' has always been important, and as such has been interpreted and put to use in many ways. Rich in historical detail, the essays...

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, starting with the workings of a real...

This article - designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered - is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by...