The article argues the neutral nature of markets. It describes the ways neutral markets expand or fold under the influence of non-neutral institutions. A demarcation is lined up between efficacy of a market process and a market result. The paper shows inconsistency of existing neoclassic models...

The concept of adaptive rationality as a characteristic of economic behavior viewed in the framework of evolution of institutions is proposed in the paper. The analysis of the most important approaches to rationality in the economic theory has allowed identifying the special nature of adaptive...