Taking inspiration from the work of Douglass North, much institutional research attempts a distinction between 'formal' and 'informal' institutions. North often associated 'formal institutions' with rules enforced through a legal system. It is suggested here that this lead should be followed and...

Prominent scholars have complained of inadequate clarity and agreement on what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative approach. This part examines different meanings of transaction cost used by leading scholars in...

This book discusses the conceptual foundations of mainstream and political economy and offers alternative directions for the development of theoretical economics. Presenting selected papers from the Euro-Asian Symposium on Economic Theory, held by the Institute of Economics of the Ural Branch of...