Comparative economic systems literature deals extensively with ‘systemic functions’ and ‘performance criteria’ such as growth, efficiency and equity but rarely mentions the topic of resilience. This paper focusses on the issue of resilience while drawing several important lessons from...

The notion that state capitalism (an economic system “in which the state functions as the leading economic actor and uses markets primarily for political gain”) is a new form of capitalism emerging in the global arena has been recently advanced by several authors. This paper explores the...

Elinor Ostrom, co-recipient of the 2009 Nobel Prize in economics, argues that in studying social order, we should not be limited to only the conceptions of order derived from the work of Adam Smith and Thomas Hobbes. To be precise, we should not limit ourselves to theoretical frameworks of The...