The interpretive critique is primarily focused on economics as a system for understanding markets as a dynamic process of human interactions and exchange. It does not equate economics with the market but instead understands economics as one of several ways of interpreting the market. The...

After World War II the continent of Europe was devastated both structurally and economically by the war. George C. Marshall is the man who can be considered the father of outsourcing and foreign aid, because of his military skills and training he was able to devise a foreign policy plan as an...

This note reviews consumers’ preference orderings in economics and shows that irrationality is a poor explanation for apparent violations of some axioms of order. Apparent violations seem to be better explained by the fact that consum-ers’ utility functions, if they exist at all, might not...

Economists have developed a vast empirical literature on how cultural traits like generalized trust affect economic output. Much of this literature finds a positive causal relationship between measures of generalized trust, as gathered by international surveys, and economic output. However, the...

“It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife.” ― Jane Austen. Jane Austen’s beloved novel Pride and Prejudice opens with the news that Mr. Bingley, “a young man of large fortune from the north of England,” has...

This study examines the relationship between economic downturns and the number of economics related caricatures in popular humour magazines. To this end, caricatures from editions of the weekly humour magazine Penguen from 2007 to 2011 were collected and categorised and the Misery Index of...

In social sciences there has been a long debate between the defenders of institutionalism and those of liberalism. The debate has centered around the relationship that exists between the individual (agent) and the social institutions (social structure). In general, liberalism defends that the...

Economic conflict resolution historically has been seen, by the main schools of economic thought, as the distribution of given, scarce resources. The neoclassical school argued that the distribution was efficiently solved by the price system, and the Marxist school argued that a revolution to...

The essay proposes in a brief sketch a methodology that allows assessing human rights beyond absolutism of abstract rights and relativist views which usually end in meaningless of the concept.

Decentralisation is invariably among the recommendations that international organisations such as the World Bank make for an enhancement of social provisions, and particularly a better targeting of social assistance regimes, in Eastern and Central Europe. However, theoretical literature as wel...