The article proposes to consider a complex process of implementation of the state management measures of de-shadowing of the economic system in the conditions of globalization. The stages of the state policy of de-shadowing of the economic system in the conditions of globalization are...

Purpose: This paper investigates the factors responsible for the emergence of different arrangements of state-society relations. Being concerned with the relations related to the industrial sector, this study focuses more on state-business-labor relations (SBLRs), especially on power dynamics...

China has created a distinct economic system. Yet despite a growing literature with valuable contributions on the institutional arrangements under 'capitalism with Chinese characteristics', the precise economic mechanisms underpinning China's state-market relations remain undertheorised. In this...

Die Autoren Clemens Fuest, Udo die Fabio und Gabriel Felbermayr haben die Effizienz staatlicher Eingriffe anhand verschiedener Beispiele untersucht und analysiert, ob man dieselben Ziele nicht mit anderen Mitteln besser und zu geringeren Kosten erreichen könnte. Ihr Fazit: Nicht alles, was gut...

Purpose This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus. Design/methodology/approach This is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus,...

The varieties of capitalism (VoCs) approach has the potential to transform economics. It implicitly emphasizes the plasticity of economies, whereby their character and outcomes are significantly a matter of choice. This paper augments VoCs theory to include a distinction between varieties and...

Die deutsche Wirtschaft steht vor großen Herausforderungen. Neben Digitalisierung und Klimawandel wird im Zuge der COVID-19-Pandemie und des russischen Angriffs auf die Ukraine auch eine mögliche Deglobalisierung diskutiert. Diese Entwicklungen wirken sich nicht zuletzt auf bestehende...

Purpose The socialist political economy with Chinese characteristics is the scientific fruit of Xi Jinping thought on socialist economy with Chinese characteristics for a new era. People-centred philosophy is the core values of the Communist Party of China (CPC) Central Committee's governance of...

Tackling the crisis, readjusting the economic model: Rising energy prices, historically high infl ation rates and ongoing supply chain bottlenecks are challenging Germany’s long-standing industrial base. On top of that, entrepreneurs and the state alike are faced with new geopolitical tensions...

Purpose The purpose of this paper is further leveraging the advantages of the basic socialist economic system and exploring the realistic way of transforming the advantages of the socialist economic system with Chinese characteristics into governance efficacy. At its Fourth Plenary Session, the...

This book is open access and illustrates the spatial distribution of the global change risk of population and economic systems with the maps of environment, global climate change, global population and economic systems, and global change risk. The risks of global change are mapped at 0.25 degree...

Since the dawn of their prolific collaboration in 1998, Daron Acemoglu and James A. Robinson have confronted a plethora of cardinal questions in social sciences: Which institutions support long-term growth (Acemoglu et al., 2005)? What economic conditions facilitate the consolidation of...

The paper examines from a legal perspective the economic policy measures adopted by the institutions of the European Union (EU) to respond to the COVID-19 pandemic, and explores their implications for the constitutional architecture of Economic & Monetary Union (EMU). The article maps the...

The paper discusses the role of the state in shaping an economic system which is, in line with the welfare economics approach, capable of performing socially important functions and achieving socially desirable results. We describe this system through a set of indexes: the IHDI, the World...

F.A Hayek is one of the most important and influential advocates of liberalism in the 20th century. His theory is famously based on the concept of spontaneous order, an order emerging from the interaction of individuals without central control and appears critical of every form of...

For more than two centuries, liberal constitutionalists have championed the separation of powers as a means of constraining self-interested political activity that erodes personal freedom. Although F. A. Hayek values the separation of powers, he contends that it cannot safeguard individual...

The original constitution of Economic and Monetary Union (EMU) rested on a neoliberal approach to interstate federalism à la Hayek. This approach appealed to political elites at the time of the Maastricht Treaty, promising to overcome the so-called ‘crisis of governability’ of the 1970s and...

The latest edition of this annual report, published in association with the Institute of Economic AffairsEconomic Freedom of the WorldThe index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom....

The twenty-first edition of the Heritage Foundation's popular survey of economic libertyThe results of the 2015 Index of Economic Freedom confirm that the significant rebound in world economic freedom reported in the 2014 Index was no fluke. While the growth in economic freedom has slowed over...

During the 1840s, twelve American states adopted new constitutions. Eleven of the twelve states adopted new procedures for issuing government debt and for chartering corporations through general incorporation acts. These institutional innovations were American inventions, and today hard budget...

The latest edition of this annual report, published in association with the Institute of Economic AffairsEconomic Freedom of the WorldThe index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom....

Executive Summary:Economic Freedom of the WorldThe index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, free- dom...

The latest edition of this annual report, published in association with the Institute of Economic AffairsExecutive Summary: The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The...

New IEA paper demonstrates that Swedish success is a result of the free market and not the welfare stateExecutive Summary:Sweden did not become wealthy through social democracy, big government and a large welfare state. It developed economically by adopting free-market policies in the late 19th...

The twentieth edition of the Heritage Foundation's popular survey of economic libertyThis year marks the 20th anniversary of the Index of Economic Freedom. With its user friendly format and straight-forward analysis, readers can track up to two decades of advancement in economic freedom,...

Establishing fiscal stability, establishing laws, realigning revenues, and finding value for expenditure management are all part of public financial management (PFM) techniques that aim to make the government more open and accountable for the benefit of the public. Because of ever-increasing...

The prosperous capitalistic society is a relatively new occurrence. It emerged as a result of several developments which increased the world GDP per capita six-fold between 1900 and 2000. The COVID-19 pandemic has demonstrated how vulnerable and fragile the prosperous society is. Its stability...

New research debunks the myth that high taxes and a large welfare state are responsible for the success of the Nordic region.Summary:Left-leaning pop stars, politicians, journalists, political commentators and academics have long praised Scandinavian countries for their high levels of welfare...

Massive amounts of confusion exists regarding the definition of Islamic Economics. This has blocked progress in terms of the development of the discipline, since there is no agreement on what its proper subject matter and methodology is. This paper shows that the confusion arises because of our...

Thomas Piketty’s Capital and Ideology (2020) offers a powerful critique of ideological justifications for inequality in capitalist societies. Does this mean we should reject capitalist institutions altogether? This paper defends some aspects of capitalism by explaining the epistemic function...

Does democracy promote economic development? We review recent attempts to address this question, which exploit the within-country variation associated with historical transitions in and out of democracy. The answer is positive, but depends %u2013 in a subtle way %u2013 on the details of...