Most people think of science and literature as distinct human endeavours. According to received convention, science is mostly about "mind", whereas literature is largely about "heart". Science, goes the argument, is by and large rational, literature primarily emotional. Science is about...

This is a preliminary draft of the first of what will be eight chapters in a book titled Politics as a Peculiar Business: Public Choice in a System of Entangled Political Economy. This chapter explores some issues regarding the scholarly location of what is often described as the Virginia...

In spite of the manifold critique about the state of economics in the aftermath of the financial crisis, an even increasing presence of economists and economic experts can be observed in the public sphere during the last years. On the one hand this reflects the still dominant position of...

This paper examines James Steuart's explanation of the emergence of the exchange economy. An initial hypothesis holds the decisive influence of a plan designed and implemented by merchants. Our proposal evokes the importance, acknowledged by Steuart, of the construction of institutions,...

Die Diskussion um die Europäische Währungsunion hat die Tatsache verdrängt, daß die Europäische Union (EU) vor schwierigen konstitutionellen Entscheidungen steht: Die wirtschaftliche Integration im Zuge des Binnenmarktprogramms, die Erhöhung der Mobilität von Arbeit und Kapital durch die...

This paper aims to describe the relationship between State and Market presented by classical economists. In general, there is accord on the importance of market to the right performance of economy. However, the invisible hand metaphor or the notion of laissez-faire gets less attention to the...