Diese Schrift behandelt ordnungs- und institutionenökonomische Aspekte des Systemwandels im allgemeinen sowie die monetäre Transformation im besonderen. Das auf dem Washington Consensus beruhende wirtschaftspolitische Standardkonzept und dessen Theoriedefizite werden hinterfragt und um...

Diese Schrift behandelt ordnungs- und institutionenökonomische Aspekte des Systemwandels im allgemeinen sowie die monetäre Transformation im besonderen. Das auf dem Washington Consensus beruhende wirtschaftspolitische Standardkonzept und dessen Theoriedefizite werden hinterfragt und um...

Transformation has been put in motion by a variety of both endogenous and exogenous forces. Although not any process was under the control of those countries, their choice of goals and instruments was anyway particularly great, at least theoretically. However, transformation was implemented as a...

It has been suggested recently by several scholars that the ideas of Friedrich von Hayek should play a prominent role in shaping the future of European private law. This paper examines what we can learn from Hayek for the further development of European contract law. Hayek rightly underlines...

Game theory holds out the promise of transforming the core of economic theory from ascience of rational choice into a science of human interaction. While traditional gametheory does open into social interaction, it mostly neglects another central feature ofeconomic intuition: spontaneous...

Ordoliberalism differs from other liberal theories in not supporting the simplistic idea that the ‘government is the problem'. The aim of this chapter is therefore to explain the core features of ordoliberalism and distinguish it from other varieties of liberalism. We also show that...

Combining different new approaches to human behavior in neuroeconomics, the cognitive sciences and institutional economics, this paper sketches the fundamentals of a naturalistic theory of economic order. In this endeavour, the argument follows the track laid down by Hayek's comprehensive...

In the history of economic thought Walter Eucken is mostly known for his impact in establishing the Social Market Economy in post-war Germany. Even though there is a growing interest in his ideas especially from an Austrian and a Constitutional Economics perspective, his influence on the...

It is generally accepted that F.A. Hayek gave up the business cycle as an object of theoretical investigation following the publication of 1941's The Pure Theory of Capital. The present paper aims to cast a shade of doubt upon this received view. Many of Hayek's philosophical writings bear...

In recent years, commentators have noticed that the European liberal order is ‘under attack'. Traditional parties of the center are in decline. Populist movements of the right and the left have won elections or significant shares in parliaments. In the face of this ‘new' crisis of...