The paper is divided in two coordinate parts. The first considers in general the issue of stockholders vs. stakeholders oriented governance systems and their relative merits and demerits. The second part deals specifically with the issue of the principal-agent problem in a stakeholder context.

Not necessarily the most appropriate defence of stakeholder interests can be found in the institutions and practice of corporate governance, other specific kinds of legal provisions can be more suitable. In the literature the issue of protection of stakeholder interests (of employees in...

The paper considers the state of the ENP policy in the framework of the present institutional impasse of the EU. Even if the Lisbon Treaty enters in force, an acceptable functioning of the EU with 27 members can hardly be compatible with the permanence of the unanimity vote for the most...

This paper considers how the different varieties of capitalism affect the rate of long-term unemployment. The liberal market variety, where employment protection is the lowest, presents lower rates of long-term unemployment than the continental European, or the Mediterranean varieties. In the...

The paper, written for the centennial celebration of Kalecki’s birth, considers the legacy for modern macroeconomics of Kalecki’s theory of income determination, which is reconstructed in its analytical constituent parts, referring in detail to the original sources. Kalecki’s...

Seen in historical perspective the main economic predicaments of the present world (such as poverty, inequality, backwardness) appear in a somewhat different light than in many current discussions, especially by sociologists, radical economists and political scientists. In the present paper the...

The paper considers the status of the European Neighbourhood Policy in the light of the new Financial Perspective 2007-2013. Even if in theory the ENP could have been a valid substitute for enlargement, it does not seem to have reached its aim of providing the perspective of a real substitute...

The types of technical progress referred to in the theory of economic growth are passed in review and their relations studied in detail. Light is also shed on the dependence of the long-run rate of growth, in the presence of a constant rate of saving, on the type of technical progress taking...

The object of the paper is to place the present issues of world poverty, development, demographic change into proper historical perspective, considering the specificities of present times concerning economic and demographic developments, as well as the international relations associated with...

Kornai's autobiography presents an interesting perspective of the intellectual environment of a Central European country of real socialism such as Hungary, from the Stalinist after-war years to the progressively more relaxed, but still constraining, atmosphere of the sixties and later. Of...