The aim of this paper is to present a basic framework which takes into account the importance of political governance and the media in influencing the economy and determining its actual course. In particular, this framework may be of help in elucidating the complex role of the media in...

The purpose of this article is to delineate the legitimate functions of government in a free society. This exercise differs from determining the “optimal” size of government, which economists have estimated at 15 to 30 percent of gross domestic product. James Madison, the chief architect of...

France has a rather low rate of enterprise creation. Institutional analysis helps to explain why this is so. Nevertheless, in the last few years since 2003, France has been modernizing its legal framework to stimulate enterprise creation and this has achieved some success. A new regime of...

With the benefit of hindsight it becomes easier to appraise the historical significance and impact of the European revolutions of 1989. By a privileging a global point of view, it becomes possible to leave behind the prevalent perspective of 1989 as a regional transition of Central Europe only....

This paper examines the role of the law in state capitalism and assesses the law's impact. The law forms the regulatory frameworks in which the state participates in the economy and attempts to regulate the manner and extent of such participation. The law is both a facilitator and a regulator of...

There has always been a debate on the roles of government and market for economic growth and development. Economic development encompasses more than just growth; it seeks the betterment of the standard of living and higher Human Development Index. There is no single strategy that would be...

The MICE sector, which accounts for about 35 percent of tourism revenues, has gained momentum in recent years and has become an industry by itself as an area of tourism. The importance of the MICE sector is clearer because it is thought that most organizations do not have enough time, labor and...

Along with the formation of information society, the developments in information and communication technologies have caused very important effects in the country's economies. Technological developments are very important for the development of other sectors. It also provides the basis for many...

The article presents considerations on a recursive calculus of the economy. Economic decisions gain their self-reference from the fact that they contradict each other with regard to their decreasing marginal utility, opportunity costs, the postponement of satisfaction of needs and their own...