Frank Knight's theory of the entrepreneurial function in modern enterprise is explored in two contexts. The first is the dismissal of the neoclassical theory of business enterprise by Berle and Means in The Modern Corporation and Private Property, and their subsequent call for measures that...

The English-language literature of technological change is one of the few areas of economic writing in which Joseph Schumpeter has maintained a following and in which he has been accorded some modicum of the attention he deserves. There has grown up within this literature a standard...

The English-language literature of technological change is one of the few areas of economic writing in which Joseph Schumpeter has maintained a following and in which he has been accorded some modicum of the attention he deserves. There has grown up within this literature a standard...

A análise da economia enquanto processo instituído, proposta por Polanyi, concretiza-se no estudo dos padrões institucionais que esta pode assumir empiricamente: reciprocidade, redistribuição e troca mercantil. Esta última – corporizada num sistema de mercados autorregulados – apenas...

The roaring (twenty-)twenties are a decade of anniversaries and milestones. 2020 was the 100th anniversary of Ludwig von Mises’s seminal article “Economic Calculation in the Socialist Commonwealth” and the 75th anniversary of F.A. Hayek’s seminal article “The Use of Knowledge in...

This paper examines Alfred Marshall's theory of organization and business management, and explores the significance of his wisdom and foresight. Despite considerable research on Alfred Marshall’s economic theory, little attention, among economists in particular, has been given to his theory of...

The fields of Political Economy and Input-Output economics are commonly unrelated due to the discrepancy between the qualitative and quantitative analysis in economic science. With the aim to overcome this separation, this paper relates the basic model of Production of Commodities by Means of...

The question of increasing similarity of forms and ideas is an important one in the social sciences in general. There are two main - and strikingly different - ways to account for increasing social similarity. The first is through an evolutionary or modernization type of argument, where...

Na raiz do pensamento Polanyiano, encontra-se a distinção entre economia no sentido substantivo e economia no sentido formal. Com efeito, a concepção substantivista que define a economia como um processo instituído de interação entre o homem e o ambiente natural e social que o rodeia e...