A new British-American journal on the new political economy of the world-system. The introduction is based upon the outline of the aims of the journal by Richard Appelbaum and Jerrfey Henderson.

A most interesting debate around the theoretical questions of labour organisation was carried out by Stephen Margin and David Landes. The arguments revolved around the question whether the factory system emerged because of technological necessity or becaue of the hierarchical relations favoured by capitalists. Based on the comparison of the two articles, the author draws some topical conclusions as well.

Who knows what the differences are between the second economy of the former state socialist economy, the informal sector of the Western market systems and the hidden economy in contemporary Estern Europe? Would anyone prefer to use the phrase shadow economy? Two young economists sort out in this article.