Using a new set of micro evidence from an original survey of 28 transition countries, we show that democracy increases citizens' support for the market by guaranteeing income redistribution to inequality-averse agents. Our identification strategy relies on the restriction of the sample to...

The relationship between economic and political liberalization has received a great deal of attention lately, yet the possibility of a nonlinear relationship and the role of reversals remain largely neglected. Focusing on democratization and financial reform, this paper offers evidence for a...

In diesem Vortrag möchte ich keineswegs die fundamentalen Unterschiede in der "Philosophie" der beiden Autoren verwischen oder gar leugnen. Mein Anliegen ist der Versuch, gewisse Missverständnisse auszuräumen, die ein Hemmnis im gegenseitigen Verständnis heutiger "Keynesianer" und heutiger...

In this paper I portray "neo-liberalism" in its original conceptual meaning as opposed to the generic term of depreciation as which it is commonly used. I identify fair competition and the denial of all privilege as the major concerns of original neo-liberals. Ethical merit for competition...

In der Diskussion über notwendige Reformen der Volkswirtschaften werden in der Bundesrepublik und anderen europäischen Ländern die institutionellen Rahmenbedingungen der Vereinigten Staaten zur Nachahmung empfohlen. Gibt es ein marktwirtschaftlich orientiertes Wirtschaftssystem, dessen...

This paper relates the political decision-process which allowed Germany to transform its planned economic system into a Social Market Economy after the Second WorldWar. The central problem of the paper is to understand how the Social MarketEconomy emerged in Germany. Was it primarily an imported...

Change was the buzzword of the Obama campaign, in response to a political agenda precipitated by financial turmoil and a global economic crisis. According to Research Associate Thomas Palley, the neoliberal economic policy paradigm underlying that agenda must itself change if there is to be a...

In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...

The claim that the Darwinian paradigm of blind-variation-and-selective-retention can be generalized from the biological to the socio-cultural realm has often been questioned because of the critical role played by human purposeful design in the process of cultural evolution. In light of the issue...

Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition is a discovery procedure that serves the common good is a case in point. The hypothesis of the markets' efficient use of existing knowledge is supplemented by the idea that...