Essays on New Institutional Economics

This collection of essays comprises some of Rudolf Richter's important contributions to research on New Institutional Economics (NIE). It deals with the central idea, principles, and methodology of New Institutional Economics and explores its relation to sociology and law. Other chapters examine applications of NIE to various microeconomic and macroeconomic issues in the face of uncertainty, from entrepreneurship to the euro crisis.

Preface.- The New Institutional Economics: Its Start, its Meaning, its Prospects.-Uncertainty in Economic Theory from the Perspective of New Institutional Economics.- New Economic Sociology and New Institutional Economics.- The Role of Law in the New Institutional Economics.- Entrepreneurs as Surrogate Forward Traders of Goods and Services, Seen from the Viewpoint of New Institutional Economics.- The Euro Crisis from the Perspective of the Preceding Debates on Fixed Versus Flexible Exchange Rates and the European Currency Union.- Why Price Stability? A Brief Answer from the Perspective of the New Institutional Economics.- Bringing Old and New Institutional Economics: Gustav Schmoller, the Leader of the Younger German Historical School, seen with Neoinstitutionalists' Eyes.- German "Ordnungstheorie" from the Perspective of the New Institutional Economics.- Methodology from the Viewpoint of an Economic Theorist - Fifty Years On.