Economies are socially constructed phenomena, but the idea of economic miracles, once redeemed from modernist doubt, certainly surprises and puzzles more than most. Both highly politically prized, and considered the spur behind worldscale change, such miracles enjoy exceptionally good press, and...

This paper compares the philosopher Sir Karl Raimund Popper with the Nobel prize winner of economics, James M. Buchanan. Popper is known for his ‘demarcation criterion’ an attempt to separate science from metaphysics. Buchanan is one of the founding fathers of modern political...

In behavioural psychology the relationship between the information provided by a stimulus and an individual’s reaction thereto is widely accepted as parabolic and commonly referred to as a Wundt curve. The present paper invokes this relationship in order to examine the apparent failure of...

This paper studies the economic performance of 19 OECD countries. Eight economic variables are selected to describe the economic performance which are incorporated into two factors afterwards by factor analysis. The relations among the variables and that between factors and variables are...

“Economic bionics†connotes that bionic methods are used to describe and explore economic science and economic operation with reference to life science and life movement. There are three kinds of mechanisms that function in economic operations. The ecological mechanism denotes economic...

The last three years have seen the dramatic transformation of the Polish banking system from a monobank that served primarily as an accounting system for the central plan to an increasingly dynamic system of independent commercial banks. Financing for productive enterprise, mortgages and...

Different societies use different mechanisms to assist people or organizations achieve cooperation. The purpose of this paper is to compare three different approaches to achieving cooperation. They are a contractual approach widely used in Anglo-Saxon societies, a trust approach more common in...

In 1993, the info-media companies, Philips and Sony brought their new digital audio recording systems (Digital Compact Cassette and the Mini Disc respectively) onto the market. Since both systems can make perfect digital copies of Compact Discs, this will dramatically affect the profitability of...

Consumers are seen as limited decision makers who set short-term activity levels from their budgets, stocks of experience, and values following a preference-maximizing heuristic. Disturbances to activity levels in their evolution by exogeneties of social and economic environments, and the...