Main description: This book provides a surprising answer to two puzzling questions that relate to the very "soul" of the professional study of economics in the late twentieth century. How did the discipline of economics come to be dominated by an approach that is heavily dependent on...

Institutionalism propounds a particular set of theoretical assumptions about the role of law in economic growth. In unpacking the development of those assumptions, this Essay adopts a model of intellectual history based on the Kuhnian argument that scientific knowledge evolves through key...

This essay on labor economics examines neoclassical theory's rise to ascendancy following the second World War, with a secondary focus on the relative decline but continued influence of institutionalist economic theory. The authors describe the evolution of institutional and neoclassical theory...

The financial crisis of 2008 has challenged the reputation of the free-market economy in the public imagination in a way that it has not been challenged since the Great Depression. The intellectual consensus after World War II was that markets are unstable and exploitive and thus in need of...

This paper is a continuation and completion of my article “Revisiting Cournot and Neoclassical Economics” (Nomidis 2023). It continues the search for the reasons that led Cournot and later Neoclassical theorists to consider an infinite number of minimal-size firms as a necessary condition...

This paper completes my previous paper "A Revision of the Theory of Perfect Competition and of Value" with a more global analysis of the mathematical mistakes of the neoclassical theory. During the second half of the twentieth century Microeconomic theory moved increasingly away from price...

During the second half of the twentieth-century economic theory moved increasingly away from price theory, which was gradually displaced by more modern trends such as game theory, behavioral-empirical-experimental economics, neuroeconomics, heterodox economics, etc. This was due to serious...