1. Introduction -- 2. On the nature and scope of economic reasoning -- 3. Time, rationality, cooperation -- 4. Institutions -- 5. Social contracts and historical rules -- 6. Legitimacy and efficiency : an introduction to transaction costs and L&E -- 7. The normative agendas of the L&E approach...

1. The economic way of thinking -- 2. The economics of consumption -- 3. The economics of production and growth -- 4. Cost theorizing and supply curves -- 5. Competition and its enemies -- 6. Taxation, regulation and factor markets -- 7. Money and banking -- 8. International trade -- 9. Exchange...

Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust...