ECONOMICS AND INSTITUTIONS by Geoffrey M. Hodgson ( 9780745602776 )

Item Details

Title:

ECONOMICS AND INSTITUTIONS
A MANIFESTO FOR A MODERN INSTITUTIONAL ECONOMICS

By:

Geoffrey M. Hodgson

Format:

Paperback

List price:

£18.99

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£17.09

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£1.90

ISBN 10:

0745602770

ISBN 13:

9780745602776

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Publisher:

POLITY PRESS

Pub. date:

30 April, 1989

Pages:

264

Description:

Geoffrey Hodgson aims to demonstrate that social institutions play a central role in moulding preferences and guiding action.

Synopsis:

Traditionally, economists have attributed consistency and rational calculation to the actions of `economic man'. In a challenge to orthodox thinking, Geoffrey Hodgson maintains that social institutions play a central and essential role in moulding preferences and guiding action: institutions are regarded as enabling action rather than merely providing constraints. From this perspective, the author takes on the `free marketeers' such as Milton Friedman and the `new institutionalism' of Oliver Williamson. He argues against the neo-classical and Austrian views of the operation of markets, offering instead a new synthesis of the work of Keynes, Veblen, Simon and Marx. Taking up the implications of his argument, Hodgson calls for a new policy perspective based on structural reform and institutional intervention.

Publication:

Imprint:

Polity Press

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Returnable

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