The article shows that mainstream economics, which now includes such current as new institutional economics, is the result of an evolution shaped by three institutions (capitalism, university and mathematics) by imposing to the profession of economists their founding beliefs. These beliefs are:...

The paper tries to explain the extraordinary expansion in the 20th century of the English-born neoclassical economics and at the same time the decline of the German historical tradition. Methodology used in this paper is evolutionary institutionalist, which can be called, following American...

The profession of economics does not fulfill its social function to provide people a correct understanding of economic phenomena. In other words, the institution of economics does not work properly. George Soros makes this conclusion in his lectures at the Central European University (Soros,...

The article attempts to justify an alternative to conventional methodology of economics, as well as make a corresponding revision of the history of this discipline. Historical analysis is based in particular on the autobiographies and biographies of key personages in the history of the...

The movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics...

Academic economists have a strong influence on political discourse in Russia by delivering through courses of "Economic theory" and "Institutional economics" very harmful conceptual elements for political discourse. This article proposes to change radically these courses in such a way that,...

Russian agrarian reform failure is a direct result of ignoring the nature of agrarian institutions inherited from Soviet times and the application of a liberal neo-classical approach in the law making process. The most important problem which presents impediments to agrarian reform is the role...

In this paper, the current situation in Russian agriculture is analyzed on the basis of constructivist institutionalism as a result of the institutional evolution during several centuries. In particular this analysis has shown that such agrarian upheavals in Russia, as the abolition of serfdom...

For those who knew the behavioural rules of various participants in the U.S. housing market, it was quite easy to recognize the swelling bubble in this market and predict that it will inevitably burst. And the only ones who could know these rules, except those who directly apply them in...

In this paper, the current situation in Russian agriculture is analyzed on the basis of constructivist institutionalism as a result of the institutional evolution during several centuries. In particular this analysis has shown that such agrarian upheavals in Russia, as the abolition of serfdom...