This paper seeks to assess the nature of financial innovations as regards the economic stability throughout an institutional framework within the Schumpeterian tradition. While in the Schumpeterian evolutionary process entrepreneurial innovations are assumed to lead the entire economy towards...

This article is a theoretical and conceptual exploration into the study of the dynamics of financial innovations and their consequences in market economies. Drawing upon the works of Schumpeter and Minsky in an institutionalist and evolutionary tradition, the article puts forward the monetary...

This article maintains that capitalist market economies have a threefold composite characteristic: (i) the central role of money and financial relations; (ii) the crucial role of institutional patterns; and (iii) the macro-nature of stability and viability concerns. It makes social control a...

The 2007/2008 crisis revealed the inefficiency of markets' self-adjustment mechanisms and the inability of related regulatory policies to keep markets on a consistent path. Something went wrong with the free market myth. From this perspective, the paper brings to the fore the regulatory roots of...