French regulation theory and German theory of order are nationally specific forms of institutional economics with independent research traditions and partly a particular conceptual framework. However, because of the different roots, especially with relation to Marxism, these theories coexist...

Especially after the Asian crisis, the conviction gained stronger acceptance that convergence of economic performance would also require convergence of economic institutions to some "institutional best practice". This paper challenges this view by distinguishing different paradigms of analyzing...

A crucial idea of institutional economics as established by Veblen and Ayres is the tension, even contradiction between technological progress and institutional change. In abstract terms, this is based on the assumption that the evolution of knowledge follows an autonomous logic, and that social...

A crucial idea of institutional economics as established by Veblen and Ayres is the tension, even contradiction between technological progress and institutional change. In abstract terms, this is based on the assumption that the evolution of knowledge follows an autonomous logic, and that social...

In his Idea of Justice, Amartya Sen compares the two basic approaches to evaluate institutions, transcendental institutionalism and realization-focused comparisons. Referring to Smith's Impartial Spectator, he argues in favor of the latter and proposes the principle of Open Impartiality....

Recently, equilibrium analysis has gained considerable ground against institutional economics in the field of explaining international trade policy. This paper argues against this trend, picking up the strand of thought originating in seminal contributions such as the Yarbroughs (1992), and...

This paper demonstrates how quality of life can be measured by plain text in a representative survey, the German Socio Economic Panel Study (SOEP). Furthermore, the paper shows that problems that are difficult to monitor, especially problems like the state of the European Union, long-term...