There are historical and institutional reasons behind our economic problems like poverty and environmental damage but it is not acceptable if they persist in years to come. The strategic use of information by individual economic agents establishes a biasing effect on our economy. In case of...

The paper revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann’s idiosyncratic (read: eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...

This article evaluates Herbert A. Simon’s contribution to organization theory, placing special emphasis on the criterion of bounded rationality. Simon’s criticism of the orthodox version of organizational bureaucracy is interpreted and his analysis is extended to institutional economics. One...

In dieser Arbeit wird eine wettbewerbspolitische Beurteilung der Zusammenarbeit von Wettbewerbern in Form von Querlieferungen vorgenommen und der Einfluß von Information, Produktion und Kapazität auf Marktstruktur und Wettbewerb analysiert. In drei spieltheoretischen Modellen werden die...

This paper examines a looming possible crisis in many Americans’ retirement plans due to the proliferation of annuity products in their retirement investment portfolios. As defined benefit pension plans have almost completely disappeared as a means of retirement savings and have been replaced...

This paper looks at how downward socio-economic mobility of displaced workers is fueling the rise of right-wing populism. After a review of relevant literature on worker displacement and angst follows an analysis of its implications for US politics. Data from government sources suggest that...

In this paper, a qualitative model is inductively developed describing a dynamic “policy mix” -system of innovation enabling and outbalancing dimensions for the deployment of narrow artificial intelligence (AI) in the manufacturing value chain. A literature review first identifies and...

Smooth and stable commercial/business activities are the prime concern of every nation, as these activities decide the developmental routes of the economy. This study has examined the role of institutional development and policy mix in determining business freedom in developing countries....

Economics and sociology are immensely related. The relationship between economics and social behavior includes the impact of social consensus upon economic and distributional outcomes. We study the demand and supply mechanisms by which a social consensus is established, discuss how social...

The concept of the VAN- consortium is introduced. It is a consortium, distinguished by two specific features. Firstly, it includes a group of enterprises that carry out successive stages of production of one or more products. Secondly, the tasks of a VAN- consortium include the development and...