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“Returning to before the Maastricht Treaty is the only hope for a prosperous, harmonious and peacefully integrated European community.”
I don’t get that at all. The problems with the Big EZ South have little to do with the Euro and a lot to do with socialism. The Big EZ North rebalanced their market socialism and gave a little more room for the market to make their economies to grow. The Big EZ South stubbornly refused to rebalance, although Spain seems to have made some important improvements which show in its economic improvement. Maybe the Austrian economists there have some influence.

I have not seen the new edition of "Institutional Economics."

But I did read the first edition when it came out. And I can highly recommend the book.

It is an excellent exposition of the ideas of the "new institutionalism," which in the first edition already had a heavy "Austrian" aspect to it.

I'm sure that in this revised edition it is even better.

Richard Ebeling

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