The paper analyzes the contribution of K. William Kapp, widely considered one of the founders of Ecological Economics. This paper will demonstrate how K. William Kapp developed his theory of social costs into a framework for environmental policy development, i.e. the basis for Political...

This paper argues that Gunnar Myrdal's theory of the state fruitfully elucidates which set of factors contributed to the transformation of the Welfare State into what James K. Galbraith has described as the modern Predator State. Myrdal employs the circular cumulative causation hypothesis...

Based on the unpublished Kapp-Polanyi correspondence, the paper analyzes the relationship between the two economists, as well as the meaning and origin of substantive economics, i.e. one of the key concepts of institutional economics with distinctly European roots. The correspondence shows how...