Aims and Strategy of Millennium Economics Ltd

1. The supreme aim of Millennium is to help develop the understanding of real-world economic phenomena by promoting high-quality scholarly publications and academic networks that are relevant to that purpose.

2. Millennium aims to increase dialogue between disciplines and approaches that share the common aim of understanding real-world economic phenomena. It believes that existing disciplinary and sub-disciplinary barriers, plus a one-sided mainstream emphasis on mathematical formalism, have impeded this dialogue. Such limitations of mainstream economics were clearly revealed and widely noted in the post-2007 global economic crisis.

3. Millennium aims to be an exemplar of diversity and pluralism within academic community, while also upholding the importance of theoretical coherence within individual approaches, academic rigour, shared understanding, scholarly criticism, and peer review. Millennium believes that academic communities and institutions devoted to the study of economic phenomena should welcome greater diversity and pluralism of approaches, to encourage constructive dialogue and creativity.

4. Millennium will produce and promote the Journal of Institutional Economics (JOIE). This is an academic journal of high quality but broad scope, welcoming all rigorous contributions and approaches (including from disciplines other than economics) that develop our understanding of the nature and roles of past, present and feasible institutions in the economy. Millennium aims to increase both the quality and visibility of JOIE.

5. Millennium aims to increase the number of its shareholders, to include other associations that share the above aims. The establishment of shareholdings in a common company will facilitate the development of further cooperation between associations and aims (1)-(4) above.

These five points were adopted by the shareholders on 8 January 2013.