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Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Thorstein Veblen (1857-1929) is one of the founders of American institutional economics. This paper aims to make a presentation of his theory of consumption and his theory of business cycles and crises, through an analytical reading of his works: The Theory of the Leisure Class and The Theory of Business Enterprise. In order to complete this analysis, we also make a general presentation of the author's thought and a brief systematization of his critique of orthodox economic thought. [ABSTRACT FROM AUTHOR]

This second paper from Mauricio Avella describes the complete cycle of capital exports originating in the United States in the 1920's: the conversion of United States into a creditor nation; the role of New York as the dominant financial center; and the distribution of United States investments, particularly in South America. Moreover, it examines the availability of these exports to Colombia, and the consequences from collapsing of external credit granted by the United States. Finally, it reviews the balance of the main international creditors when the export cycle of American capital closed in the 1920's. [ABSTRACT FROM AUTHOR]

El artículo presenta una crítica literaria acerca de "Tiranía de los expertos" de William Easterly. El autor comenta sobre la teoría de Easterly sobre las políticas económicas promulgadas por varios tipos de gobiernos, particularmente las dictaduras, y su impacto en los pobres. También se considera la representación de las condiciones experimentadas por inmigrantes ilegales en los Estados Unidos.

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)