The 2008 financial crisis has touched almost every nation around the world resulting in the loss of trillions of dollars in wealth. People began seriously questioning the fundamentals of free market system. While some blame politicians, bureaucrats, and corporate leaders for their mistaken...

Recent data on electoral dynamics and sociopolitical preferences present evidence of declining popular support for the values and institutions of traditional liberal democracy across some western societies. This decrease is more pronounced within the younger cohort of voters, especially the...

Does public support for the economic model, rise if the economy prospers and drop in times of a downturn? Or is the support largely independent of the ups and downs of economic cycles? A capitalist economy is based on several elements, such as private ownership and competition. We hypothesize...

During modern times there are two major competing economic systems: Capitalism and Socialism. Although by the middle of the twentieth century Socialism had included almost one-third of the world’s population and then it declined, in terms of practical impact Capitalism has outshined Socialism...

Our article presents an index of institutional complementarity for 27 postcommunist economies, and evaluates a key claim of the Varieties of Capitalism paradigm. The empirical novelty of the index lies in its integration of informal institutions as well as its combination of macro-level and...

Corporations increasingly dominate the U.S. civil justice system, as Marc Galanter explains in his recent article, Planet of the APs: Reflections on the Scale of Law and its Users, 53 Buffalo L. Rev. 1369 (2006). My article builds on Galanter's discussion of corporate legal power by subjecting...

China and other East Asian countries were able to deal with the coronavirus pandemic much better than most Western countries. Both the number of infections and the mortality rate were lower than in Western countries by two orders of magnitude. Besides, economic recession associated with the...

La dérégulation des modes d'existence des oeuvres de l'art contemporain, et les critères contrastés de leur définition, interviennent à une période historique de profonde mutation des formes symboliques. Cette dérégulation, influencée par les modèles néolibéraux de l’économie...

In this paper we argue that the main determinant of differences in prosperity across countries are differences in economic institutions. To solve the problem of development will entail reforming these institutions. Unfortunately, this is difficult because economic institutions are collective...