The article will focus on regional diversity of the Polish Labor Market from institutional perspective. The Polish Labor Market is geographically diverse in terms of unemployment and employment rates, and also in terms of economic development. At the end of 2013 the difference between the lowest...

Despite the fact that the significance of institutional economics is commonly recognized, the uncertainty of basic concepts of institutional economics – institutions – and its investigation sphere is widely mentioned today. The paper aims to trace the process of evolution in the...

In the aftermath of the global financial collapse that began in 2007, governments around the world have responded with reform. The outlines of Basel III have been announced, although some have already dismissed its reform agenda as being too little (and too late!). Like the proposed reforms in...

The world's worst economic crisis since the 1930s is now well into its third year. All sorts of explanations have been proffered for the causes of the crisis, from lax regulation and oversight to excessive global liquidity. Unfortunately, these narratives do not take into account the systemic...

Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...

In this paper I will follow Hyman Minsky in arguing that the postwar period has seen a slow transformation of the economy from a structure that could be characterized as robust to one that is fragile. While many economists and policymakers have argued that no one saw it coming, Minsky and his...

It has been suggested that, by generalizing Darwinian principles, a common foundation can be derived for all scientific disciplines dealing with evolutionary processes, especially for evolutionary economics. In this paper we show, however, that the principles of such a Generalized Darwinism are...

This paper takes off from Jan Kregel's paper 'Shylock and Hamlet, or Are There Bulls and Bears in the Circuit?' (1986), which aimed to remedy shortcomings in most expositions of the circuit approach. While some circuitistes have rejected John Maynard Keynes's liquidity preference theory, Kregel...

An evolutionary perspective on economic behavior has to account for the influences that the human genetic endowment has on the choices the agents make. Likely to have been fixed in times of fierce selection pressure, this endowment is presumably adapted to the living conditions of early humans....

Dieser Beitrag erläutert (1) die Fragestellung des Hayekschen Gesamtwerks. Fernerskizziert er (2), wie Hayek diese Fragestellung mit seinem Ansatz bearbeitet hat. Sodannwerden (3) Stärken und Schwächen dieses Ansatzes diskutiert. Abschließend (4)formuliert dieser Beitrag Lektionen für das...