In 1961, in the earlier stage of the European integration, Bela Balassa proposed a five successive phase model about it as a foresight. Today, the half century experience on integration and corresponding literature issued just lets us see rather two big phases (instead of five). The one would be...

European business market as we know it in the XXI century has a history of about 1200 years. This market driven by sea trade, by the spirit of competition that developed required technological development and by the industrial revolution, has issued a culture of its own, embodied in our today...

The aim of this study is to analyse both the differences and the similarities between Marx and Veblen regarding historical specificity, evolution, and alienation. Starting with their discussions on these subjects, this article builds on the analyses of capitalism. The goal of this study is not...

This article presents the evolution of the National Bank of Romania from the status of a central government body to the one of autonomous public institution, through laws that have governed it from its setting up (1880) to the present. As an autonomous administrative authority, central bank...

Schumpeter’s business cycle and growth theory encompasses two distinct types of superposition. The first one is well known from its graphical representation provided in Schumpeter’s Business Cycles [1939], namely the superposition of different waves or cycles of varying magnitude. There...

Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This...

This paper deals with Commons?s and Veblen?s position on the specific institution of family. Commons adheres to the conventional pattern in which men are in charge of the livelihood and woman of the affective side. He admits the inequality between men and women. The historical evolution let...

The paper aims to show a comprehensive insight into the history of business economics science in the Czech Republic, marginally also on the European continent and worldwide. It depicts business economics in its beginning as a doctrine that was largely underestimated. This science was, for a very...

The purpose of this paper is to provide an exposition of Veblen's and Minsky's views on the financial markets and to explore the possibility of any common denominators. I stress that they both bring forward the importance of leverage as a path-breaking insight, as well as of liquidity and...

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 make metaphorical use of Darwinian ideas, and avenues that are based on the fact that...