The advent of the knowledge economy has transformed the behavior of economic agents and the nature of transactions. In particular, the increase of knowledge based transactions not associated with monetary flows is weakening the significance of traditional measures of economic dynamics like gross...

The currency reform on 20 June 1948, together with a comprehensive liberalisation of prices and the implementation of monopoly control, formed the basis for the West German economic miracle. From then on, the market principles formulated by Walter Eucken und implemented by Ludwig Erhard became...

The dominant debate about the nuclear crisis often clouded the view of Western and South Korean observers regarding the deep changes, North Korea's political and economic system underwent in the Kim Jong-Un era, from the Soviet socialist system under his grandfather Kim Il-Sung and the military...

Based on the concepts of justice by Hayek, Rawls and Buchanan we argue that the growing political dissatisfaction in industrialized countries is rooted in the asymmetric pattern in monetary policies since the 1980s for two reasons. First, the structurally declining interest rates and the...

The purpose of this paper is to present the views of various schools of economic thought on the sources of the institutional order of economies. The premises of the theories of constituted and spontaneous economic orders are taken as the criteria on the basis of which the sources of an...

Prospects for the further civilizational development and success of Polandhave their source in the characteristics, quality, and dimensions of Poland's socio-economic potential, which still remains inadequately used. The progress made during the over twenty-year long transformation of the...

This paper explores the origin and development of the consumer choice paradigm as the core concept of German ordoliberal thought which has had a strong impact on EU competition policy and law. Outside Germany, ordoliberal thought is often identified exclusively with the learning of the original...