Five years ago in a review of Jaroslav Vanek's The Labour‐Managed Economy published in this journal, the present writer ventured, inter alia , two general observations on the economics literature of the labour‐managed firm. First, “Vanek has contributed more words and analysis on this...

In a series of books beginning in 1949 with Expectation in Economics , G.L.S. Shackle has analysed business decisions made under conditions of uncertainty (see Shackle, 1949,1955,1961,1970). In these he rejects the orthodox, probability‐based, approach of expected utility theory and outlines...

There has been much concern in recent years with whether the ‘privilege’ of self- regulation accorded to the professions works for or against the public interest (Federal Trade Commission, 1984; Monopolies and Mergers Commission, 1970, 1976a and 1976b; Department of Trade and Industry, 1989; Courts and...

This paper presents an empirical analysis of the factors which promote entrepreneurial activity across a number of transition, developing and developed countries. It produces results which highlight the importance of institutions in promoting entrepreneurial activity. This work is part of an...

The article analyses the effect of removing barriers between two autarkic legal markets with different technologies. Firms using the more efficient technology penetrate the other market. The result is mergers between firms from the efficient jurisdictions and those in the inefficient...