Many mainstream schools of economics argue that work is a burden, while nonmainstream schools argue that this might not be entirely true. This paper aims to reconcile the differences by suggesting that individuals will balance income and leisure only after the necessary expense for their current...

An increasing number of economists argue that income inequality was a root cause behind the subprime crisis of 2007. The aim of this paper is to outline and contrast the theoretical underpinnings of Marxian, Post Keynesian and mainstream crisis theories and to compare their viewpoints regarding...

Russian Abstract: Работа посвящена моделированию процесса институциализации академической дисциплины и структуры ее институтов на примере (бухгалтерского) учета, в...

This paper works out some of the basic properties of an economy with energy as a factor of production. The economy now consists of streams of energy conversions that direct energy to the production of goods and services. The focus on energy generates a variety of insights. It yields a new...

This paper discusses the actual relevance and historical origins or ‘competition universalism’. In economics, competition is conceptualized as a nearly ubiquitous element of societies, or, at least, used to study a wide array of social and political relations, including competition between...

The year 2021 marks the 150th anniversary of Carl Menger’s Principles of Economics, the Austrian School of Economics’ foundational work. This paper looks at the most relevant work this school of thought has produced during the last century and a half. The Austrian School has worked on...

This paper investigates the origin and evolution of the concept of the industrial district. The idea of industrial district is quite widespread in modern industrial economics and in business studies, with a variety of meanings and typologies. Indeed the real original conceptualisation dates back...

This paper examines the neoliberal claim that the only way to achieve sustainable growth and full employment is to abandon Keynesian macroeconomic management and the welfare state and bring back flexible labour market policies. It summarises the conditions required for neoliberal policies to...

A logical reflection is given on the storage of economic thought of the market economy. Three systems of economics since Adam Smith are identified on the basis of their assumptions of value. The classical system is separated from the others for its production idea of value in contrast to the...