Were we to resume the most general methodological principle of the Austrian School it would be truth seeking. Without such an orientation the scientific enterprise (and much more than that) becomes meaningless qua scientific endeavor.

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels to the case of ancient Egypt. In doing so, the paper examines the historical applicability of the chartalist and metallist theories of money. It will be shown that the origins...

A neglected aspect of ecological economics is the link to the social context. The socio-economic perspective extends standard economic analysis into concerns for distribution, ethics and the power of institutions which form and implement policy. We explore how an institutional perspective on...

Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. In this paper, I propose a stochastic dynamic general equilibrium...

Obwohl der Begriff "der Markt" (in der Einzahl) andauernd - sowohl in der Theorie als auch in Alltagsdiskurse - mit einer großen Selbstverständlichkeit verwendet wird, hat er eine Geschichte, die fast 100 Jahre zurückgeht. Diese Begrifflichkeit wurde erstmals in der Österreichischen Schule...

This paper is one of two working papers concerning the waste management sector transition project run from MERIT under the direction of René Kemp. This paper examines some of the numerous meanings and interpretations associated with the words “institution” and “institutions” and the...

Endogenous change in the economy is caused by innovative activities of the economic agents. The paper discusses how hypotheses on innovative activities which account for the epistemological problems implied by novelty can be developed. Considerations relating to these problems suggest population...

The professional life of economists takes place within the boundaries of the institution of academic economics. Belonging to the institution enable economists in many ways. It provides a context wherein their contribution is meaningful. But it constrains, too, what economists are allowed to do...

A review essay on Avner Greif, Institutions and the Path to the Modern Economy: Lessons from Medieval Trade, Cambridge, Cambridge University Press, 2006, xx+503.