India has witnessed a tremendous economic growth, as measured by GDP, over the past 10 years. Many experts have pointed out that FDI (Foreign Direct Investment) has been one of the major factors taking India to this growth level. Foreign investment in India has increased continuously since...

The recent earthquake in Japan and its impact on the Fukushima nuclear power plant is a tragic reminder of humanity’s ever growing dependence on energy for its socioeconomic development. Energy plays a central role in determining the effectiveness of economics. However, are the fundamental...

The global financial crisis (GFC) led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background we conducted a study with undergraduate...

Der Beitrag verfolgt die beiden miteinander verwandten Fragen, wie Ökonom*innen zu wissen vorgeben und warum sie überhaupt wissen wollen. Es wird argumentiert, dass sowohl die ökonomische Wissensform als auch die Motivation der Wissenden im Verlauf des 20. Jahrhunderts einen grundlegenden...

Zehn Jahre nach Ausbruch der Finanzkrise wurden in der Juli-Umfrage des Ökonomenpanels von ifo und Frankfurter Allgemeinen Zeitung Professoren für Volkswirtschaftslehre an deutschen Universitäten befragt, wie sich ihrer Meinung nach die Bedeutung der VWL gewandelt hat und inwieweit die...

This elaboration starts by deciphering modern science as a social subsystem being loosely coupled to the rest of society (section 2.1). Additionally, the way in which modern (monistic) economics was generated within this subsystem will be sketched (section 2.2). This will be contrasted with the...

The model of perfect competition is one of the most famous, most important, and most misunderstood concepts in economics. Rather than aiming to be a full-blown model of real-world competitive markets, the perfect competition model isolates the decentralized coordination mechanism inherent in all...

The highly popular belief that rent–control leads to an increase in the amount of affordable housing is in contradiction with ample empirical evidence and congruent theoretical explanations. It can therefore be qualified as a misconception. We present the results of a preregistered online...

20 years ago, William Baumol provided an interesting wish list that outlined his hopes for the future of economics over the next hundred years. Impatiently, this paper puts his wish list to the test by comparing the characteristics of publications that appeared in the American Economic Review...

The paper presents an overview of the several sources used by researchers in economics and related fields. It shows the features and advantages of these sources, the characteristics than in this discipline have books, articles and journals, as well as how they are ranked and how impact...