From Aristotle to Ricardo and Menger, economists have emphasised the function of money as a medium of exchange together with the intrinsic qualities that increase its saleability and credibility as a most liquid store of value. But the social institution of money co-evolves with technology. It...

Dieser einleitende Beitrag zum Schwerpunkt "Risikokapital in Österreich" behandelt den in der Literatur als "valley of death" bezeichneten kritischen Übergang von der öffentlichen Forschungs- zur privaten Wachstumsfinanzierung. Die Analyse identifiziert die Ursachen von Finanzierungslücken...

This paper advances a dynamic rationale for competitiveness policy that focuses on an economy's ability to evolve in order to achieve high real incomes along with desired qualitative changes in the socio-economic system. It highlights that the ubiquitous 'rationalities of failure,' either of...