John Rae has recently been rediscovered as a precursor of the endogenous growth theory. This study argues that Rae needs to be rediscovered a second time for his original contribution to clarify the role of the innovation and technical change within the economic systems. The aim of this paper is...

China's rise drives a growing impact of China on economics. So far, this mainly works via the force of example, but there is also an emerging role of Chinese thinking in economics. This paper raises the question how far Chinese perspectives can affect certain foundational principles in...

This paper sustains that reappraising Austrian economics in the light of Aristotelian ideas is not only possible but also fruitful. First, the paper draws a sketch of the essential features of Austrian economics. Next, it argues about the necessity for a thorough analysis of the notion of...

Recent literature on Adam Smith and other 18th Scottish thinkers shows an engaged conversation between the Scots and today's scholars in the sciences that deal with humans - social sciences, humanities, as well as neuroscience and evolutionary psychology. We share with the 18th century Scots...

The present paper considers the implications of the postulate that the activities of scientists constitute complex phenomena in the sense associated with the methodological writings of the Nobel Prize-winning Austrian economist, methodologist, and political philosopher, F.A. Hayek. Although...

In a recent article in "Challenge" magazine, Andrew Farrant and Edward McPhail argue that the central message of F. A. Hayek's "The Road to Serfdom" is that any attempt to create a welfare state must lead inevitably to totalitarianism. I argue in my paper that this was not the central argument;...

There is something extreme about Mises' apriorism, namely, his epistemological justification of the a priori element(s) of economic theory. His critics have long recognized and attacked the extremeness of Mises' epistemology of a priori knowledge. However, several of his defenders have glossed...

This paper explores the four decades of intellectual relationship between the Austrian School economist Ludwig von Mises (1881-1973) and two major representatives of German ordoliberalism, Walter Eucken (1891-1950) and Wilhelm Röpke (1899-1966). The timespan covered starts in the early 1920s...

In recent years, commentators have noticed that the European liberal order is 'under attack'. Traditional parties of the center are in decline. Populist movements of the right and the left have won elections or significant shares in parliaments. In the face of this 'new' crisis of liberalism,...

Lewis argued that his 1954 model of economic development in a dual economy was based on the classical framework originally advanced by Smith, Malthus, Ricardo and Marx. The present paper provides a detailed investigation of how Lewis adopted and adapted classical concepts such as...