<title>Abstract</title> In this paper we attempt to contribute to the ongoing debate about new and old regionalism. First, we focus on the presentation of regional initiatives in the Central & East European (CEE) region and on specific motives behind Foreign Direct Investment (FDI) and trade expansion in CEE...

<title>Abstract</title> In one of the longest lasting debates in economics, mainstream economists still basically rest their position regarding trade and development policies on the static principle of comparative advantage, while relying on fancier econometric techniques to find empirical support. This paper...

<title>Abstract</title> This paper presents a classroom exercise for an introductory economics course that allows students to discover the economic and social impacts of working for minimum wages. Students are asked to estimate a budget necessary for both a desirable and sustainable standard of living for...

<title>Abstract</title> Paul Krugman tells the story of the Capitol Hill baby-sitting co-op as a means of introducing readers to the economics of recessions. We take the story from where Krugman stops and develop it by presenting different aspects of a monetary economy with the help of a graphical analysis....

This paper is a comment on Vernon Smith's paper, Adam Smith: from propriety and sentiments to property and wealth. This paper argues that while Vernon Smith is correct in his analysis that Adam Smith's theory of human nature, as expressed in <italic>The Theory of Moral Sentiments</italic>, provides a much more...

"Why return to Adam Smith?" Because we learn that he had fresh-for-today insights, derived from a modeling perspective that was never part of economic analysis. Smith wrote two classics: <italic>The Theory of Moral Sentiments</italic> (1759; hereafter <italic>Sentiments</italic>); and <italic>An Inquiry into the Nature and Causes of the...</italic>

<title>Abstract</title> Economic instructors exploring issues of income disparities will often be facing students who are apathetic towards the topic. Although income disparities have grown in the US, the university experience is still overwhelmingly dominated by students coming from middle and upper class...

<title>Abstract</title> This article analyzes technology-related development in Latin America from a heterodox perspective based in Institutionalist and Structuralist Economics. Since the 1970s, the lack of systematic national projects designed to institutionalize endogenous innovation capabilities in the...

Vernon Smith (VS) discovered Adam Smith (AS) late in his professional career, and has adopted ideas from <italic>The Theory of Moral Sentiments</italic> to explain findings in experimental economics. Most important is the theorized link between moral sentiments and the evolution of property rights and law as...