The relationship between the development of economics and economic performance is not reducible to any set of simple rules. Among the historians of economic thought there is even a handful of those who perceive the ...

Over the last century, the social function and the role of the universities and other higher education institutions (HEI) changed significantly. What the contemporary students expect to gain due to their university education ...

Acemoglu and Robinson’s theory presented in their famous Why Nations Fail, and other papers, should be placed among the institutional theories of economic development. Yet the problem is they strongly differentiate their ...

Alfred Marshall’s approach to economics hides a paradox. On one hand, the ‘father’ of neoclassical economics strongly favoured conducting economics as a positive science. However, the fact that Marshall was such a consistent ...