We have to consider that natural laws dictate all aspects of our life. These are the First and the Second Law of Thermodynamics. It is therefore necessary to look into details of this fact in order to avoid making mistakes redarding the future life of mankind. To violate these laws could have...

Seen in historical perspective the main economic predicaments of the present world (such as poverty, inequality, backwardness) appear in a somewhat different light than in many current discussions, especially by sociologists, radical economists and political scientists. In the present paper the...

In order to explore the prospective effects of what hails as the Beijing consensus, a conceptualization arguably near-synonymous with Beijing's export-oriented strategy, the Article first discusses the state of the Chinese economy in the post-global financial crisis era. After reviewing some key...

We examine the proposition that, in co-operatives, the need for democracy must clash with efficiency demands. To shed light on diverse issues surrounding this claim we distinguish different forms of co-operatives and identify different meanings of democratic governance and forms of economies of...

We provide evidence that a history of democracy at the local level is associated with contemporary democracy at the national level. Auxiliary estimates show that a tradition of local democracy is also associated with attitudes that favor democracy, with better quality institutions, and higher...

This is an entirely new draft of the sixth chapter of my book 'Foundations of Evolutionary Economics' which is going to be published by Edward Elgar in due course. With permission of the publisher, the draft chapters are posted on the web to facilitate academic discussion for further...

Following Foucault's analysis of German Neoliberalism (Ordoliberalism) and his thesis of ambiguity, this paper introduces a two-level distinction between individual and regulatory ethics. In particular, its aim is to reassess the importance of individual ethics in the conceptual framework of...

NWW Concept (North & all, 2009) determines the necessary threshold conditions for the transition from Limited Access Orders (LAO) to Open Access Orders (OAO). In this article, I offer a sufficient criterion for such a transition. What are the conditions under which a rent-seeking behavior...

This paper develops a conceptual framework, which can accommodate a wide range of value judgments used in ethical evaluations of extended social states and which can be used to differentiate different categories of value judgments by referring to the type of information on which they may be...

Collateral and own capital have resurfaced only recently in economic literature as subjects of economic theory without, however, being understood as the premises for interest and money and, hence, any activity that is genuinely economic. This approach, which we have termed property economics,...