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The purpose of the chapter is to study dynamics of development of economic conflicts and to develop a conceptual model of conflict of socio-economic system as an analog to the model of economic cycle.

The author compiles and analyzes the existing conceptual static model of conflict of a socio-economic system. The theoretical basis of the research includes the works of modern authors that reflect provisions of the theory of cycles and devoted to cyclic fluctuations of socio-economic systems. The methodology of the chapter includes the method of dynamic modeling of the process of development of socio-economic systems and the method of formalization (graphic presentation of the obtained results and conclusions). Also, the author uses the complex of general scientific methods within the systemic approach – induction, deduction, analysis, and synthesis.

It is substantiated that the existing conceptual static model of economic conflict, which treats it as a non-recurrent phenomenon in socio-economic system, contradicts its dynamic nature. Instead of this, similarly to the model of economic cycle, a conceptual dynamic model of conflict of socio-economic system is developed, which treats economic conflict as a process that develops according to a certain algorithm and is constantly repeated.

The offered conceptual model of conflict of a socio-economic system as an analogue of the model of economic cycle allows specifying the methodology of studying economic crises, which are manifestations/examples of economic conflicts. This model emphasizes the dichotomic nature of economic conflict (its probable negative or positive consequences), which allows for more precise treatment of economic crisis – which is usually considered to be a negative phenomenon. According to the offered model, crisis is not a phase of economic cycle but socio-economic process that is characterized by cyclic fluctuations. As is expected, the developed model will allow describing the practice of development of modern socio-economic systems with higher precision.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

The purpose of this article is to study how the German historical schools are treated in the histories of economic thought as the background for an exploration of some historiographical issues in the history of economic thought.

The study describes the contributions of the members of the German historical schools from a variety of different viewpoints and attitudes toward the history of economic thought.

One conclusion is that several of the things most of the economists of the German historical schools desired are now part of mainstream economics. These include an enlarged scope of economics, changes in the role of the state in economic life, attention to the relationships of law and economics and recognition of the importance of history. Another conclusion is that several historiographical and methodological problems important for the history of economic thought need further study.

The study helps to explain and understand some historiographical aspects of the history of economic thought. It examines practices, principles, theories, methodology and forms of presentation of scholarly historical research on one subject in the history of economic thought.

The purpose of this paper is to explore the application of a hermeneutic-based approach as innovative way to study the Cultural Heritage management in a mesoeconomic space.

The paper builds a theoretical framework based on the analysis of relevant literature in the field of cultural economics, heritage economics and conservation and restoration techniques. Then, after having defined the conceptual hypothesis, a hermeneutical interpretative model is designed for the analysis of the processes of Cultural Heritage management with particular regard to the strategies of stakeholder engagement.

The research shows how the mesoeconomic space is that border area where it is possible to solve more easily the conflicts that arise as a result of the different expectations of stakeholders. Hermeneutical analysis, applied in iterative form, allows us to find common connections, points of contact and convergences between the interpretative horizons of the various stakeholders.

The application of the interpretative model allows the identification of the expectations of stakeholders, improving the knowledge of the tangible and intangible attributes of works of art, in order to design appropriate interventions of restoration, conservation and valorization.

The new model of analysis, based on hermeneutic methodology, is designed to understand and describe the social and economic relations between the different stakeholders involved in the management of Cultural Heritage.

This paper examines for the first time the Cultural Heritage sector within the mesoeconomic area between the micro and the macroeconomy. In addition to this mesoeconomic analysis and conceptual approach, the authors introduce as methodology the economic hermeneutics that represents an innovative tool in the field of economic and business disciplines.

The concepts of complexity, endogeneity and circular causation – Myrdal's term was cumulative causation – are shown to be interrelated ones in configuring an economic model in the framework of systemic embedding and its empirical application.

The ensuing framework of economic modeling with complexity provides a controllable and predictable overarching worldview. Anomie in the economic universe and its embedded world‐system are analytically rejected. This consequence is due to the epistemic nature of modeling that combines complexity, endogeneity, and circular causation for attaining predictability and controllability, even in the face of complex systemic perturbations. The epistemology of unity of knowledge contrasted with rationalism is treated as the foundational worldview. An illustrative empirical work is given to convey the conceptual model and its applied viability.

Both the theoretical and empirical results point out how the induced effects of knowledge flows in reference to the epistemology of unity of knowledge continuously improves the complementary relationships of the evolutionary learning fields, and rejects marginalism as being logically non‐sequiter in such epistemic systems.

More variables and data would increase the explanation of the continuous simulation in the evolutionary learning world‐system model.

More data would increase the versatility of the empirical exercise.

The study is based on the idea of social and economic interface in extending the scope of economic modeling.

The paper is very original in the area of heterodox economics that questions orthodox economic postulates and presents the complex methodology by circular causation method instead.

The aim of this paper is to show that there is need for revitalization of the normative branch of political economy. The first part of this paper will deal with some methodological reservations against a participation of economists in a rational discussion of normative issues. The second and third parts will outline the approaches and problems of two unconventional schools of thought in present‐day economics which make attempts to strive for a reconciliation of positive and normative economics.

All of the above proposals are realities in Western Europe, and it is suggested that the adoption of such “reforms” would substantially reduce the transaction costs of providing compensation to deserving plaintiffs, improve the efficiency of the tort system, and provide manufacturers and service providers with greater predictability and “fairness” in potential tort damages in the United States.

Reliance on statistical data on trade and development for Islamic countries cannot forecast the state of the future state of reconstruction of the Muslim World in this field. The limitation here is due to the age‐old debility of the Muslim World to project any significant economic, social and institutional transformation in the light of her own communal interest and self‐reliance. Thus the past economic data on trade and development variables show no pattern of future change. Forecasting with these data simply projects the past state of the Muslim World into the future. For these reasons, a model of reconstruction and transformation of the Muslim World on Islamic grounds necessitates reliance on normative issues. Yet these are issues that are First theoretically modelled and then empirically investigated for viability according to survey data.

The purpose of this paper is to explore the impact that an event such as the Cherry Festival, organized by the municipality of Fundão (Portugal), can have in a rural area.

To obtain a complete picture of the impact of the Cherry Festival on Fundão, the perspectives of the organizers, suppliers, and the local residents are combined. The impact is evaluated through qualitative economic and social impacts and quantitative economic impact. The information is obtained through primary and secondary data with personal interviews and questionnaires.

The results suggest that for these kind of small events, there are economic and social impacts, but the social impacts extend beyond the economic benefits.

The main limitation of this paper is the impossibility of using input‐output tables and multipliers of expenditures in a small area such as the one studied.

The paper shows that even in small events important impacts may occur that justify the investments made on them.

The paper presents a combination of methodologies to measure the impact an event can have in small areas that do not have suitable input‐output tables and multipliers of expenditures.