We need a better understanding of how states and institutional practices impact economies. At the Institute, we encourage research in this area from a variety of viewpoints and disciplines, leading the search for better theory and real world evidence about the impact of governance on the economy.

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    George Soros: The Living History of the Last 30 years

    Economic theory has modeled itself on theoretical physics. It has sought to establish timelessly valid laws that govern economic behavior and can be used reversibly both to explain and to predict events. Read more

    Optimal Currency Areas and Governance: The Challenge of Europe

    In preparing this paper I have decided not to embark upon the decades-old issue of optimal-currency areas and governance as such. I assume that one of my colleagues on the panel will do that. Instead I will present an historical case of over-indebtedness of parts of a common-currency area somewhat similar to the present challenge of Europe, or rather of the Euro area with its common currency. Read more