"Orthodox macroeconomics is founded on microeconomics. Heterodox economists either reject micro foundations or experiment with behavioural relationships without paying attention to the principles that generate them. The book takes off from Michal Kalecki's aphorism about economics being a...

"The Political Economy Reader advocates a particular approach to the study of political economy - the "market-institutional" perspective - which emphasizes the ways in which markets are embedded in political and social institutions. This perspective offers a compelling alternative to the...

In former studies cluster firms have hardly proven to be more resilient to shocks than non-cluster firms. Yet, there is a lack of research on how cluster firms can achieve resilience. Based on a qualitative study of firms in the Eastern German Lusatian energy cluster we found that after a shock...

Main description: Der vorliegende Band vereint ausgewählte wirtschaftswissenschaftliche Publikationen von Wolfgang Schmitz aus vier Jahrzehnten. -- Motiviert wurden die wirtschaftsethischen Arbeiten insbesondere durch seine schon früh einsetzende wirtschaftspolitische Tätigkeit. 1950 trat er...

This report investigates the endogenous effects of the implementation of stabilization programmes (credits and different variants of conditionalities) in developing countries. A model is outlined, which at the same time builds on Modern Political Economy and New Institutional Economy and...

Institutional questions have become increasingly prominent in the evaluation of nearly every area of structural policy. The present article shows how formal economic analysis may be brought to bear on the problem of understanding institutions. It begins by reviewing the recent history of thought...