Three elements make up the heart of Gustav Schmoller’s conception of social policy: 1. Schmoller’s comprehensive view regarding social policy issues; 2. Schmoller’s distinction between the internal and external effects of socio-political measures and finally, 3. the importance Schmoller...

This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...

Abstract What went so wrong in economics started in 1939 with ‘The Hicksian Getaway,’ where – after over ten years of debate assuming increasing returns – Hicks asserted decreasing returns as the basis for his competitive frame, dismissing any “useful analysis” of increasing returns....

This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...

This paper summarizes and highlights different methodological approaches to behavioural economics in the context of the conventional economic wisdom and the implications of these different methodological approaches for financial literacy, related institutional change, and public policy....

English Abstract: In the last four decades there is a renewed interest within the economic theory for the institutional structures. Numerous, multiple and often unpredictable effects of institutions on economic process are differently reflected among the leading schools of economic analysis....

The purpose of this chapter is to link Ronald Coase's methodological approach to what he ‘learned' when he was at the London School of Economics (LSE) from Edwin Cannan and Arnold Plant. The main lesson Coase taught us and insisted upon was that economics should not be too ‘abstract' and...

This article is the introductory chapter to a festschrift in honour of Geoff Hodgson. In work spanning four decades, Geoff Hodgson has made many path-breaking contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory...

This paper explores how a consideration of ontological issues - that is, issues concerned the nature of social reality - informed Elinor Ostrom's analysis of the possibility that local communities can successfully govern common property resources. It is suggested that several ontological issues...

I discuss Aoki's fundamental model of institutions in its most recent version, building on a comment that Aoki contributed to a paper by Hindriks and Guala in 2015. These authors advance a ‘rules in equilibrium' approach to institutions that claims to reduce a Searlian social ontology of...