This paper clarifies a common misrepresentation of our theory of capital as power, or CasP. Many observers tend to box CasP as an "institutionalist" theory, tracing its central process of "differential accumulation" to Thorstein Veblen’s notion of "differential advantage". This view, we argue,...

There are several ways to incorporate evolutionary concepts into economic thinking. This article reviews the most important transfers of this kind into evolutionary economics. It broadly differentiates between approaches that draw on an analogy construction to the biological sphere, those that...

For non-economists, it is often difficult to understand why economists place so much emphasis on the self-interest motive. It is obvious that people act out of a variety of motives - gratitude, anger, social obligation and many, many other motives. There are several reasons why economists still...

A research project conducted by the Office of the Chief Economist at the Inter-American Development Bank has found preliminary but compelling evidence that the budgetary institutions in Latin America have a significant bearing on fiscal results. The researchers have developed an index of budget...

We present the theory of the collaborative innovation bloc (CIB), an evolving system of innovation within which activity takes place over time. We show how the application of the CIB perspective can help make institutional and evolutionary economics more concrete, relevant, and persuasive,...

The purpose of this article is to provide an alternative antitrust model to the mainstream model that is used in competition policy. I call it the Institutional-Evolutionary Antitrust Model. In order to construct an antitrust model one needs both empirical knowledge and considerations of how to...