PART 1 PRELUDE: Introduction and Outline; On Methodology and Assumptions. PART 2 A FAREWELL TO `ECONOMIC MAN': Behind Methodological Individualism; The Maximisation Hypothesis; The Rationalist Conception of Action; Action and Institutions. PART 3 ELEMENTS OF AN INSTITUTIONAL ECONOMICS: Contracts and Property Rights; Markets as Institutions; Firms and Markets; Expectations and the Limits to Keynes; Directions and Policy Implications.
Geoffrey Hodgson is Research Professor in Business Studies at the University of Hertfordshire.
"I think that this is a superb book ... what Hodgson has done is to
bring together a wide range of themes, and weave them together in a
particularly persuasive way. It is a must read for economists
predisposed to question contemporary orthodoxy."
Richard R. Nelson, Review of Political Economy
"This is a landmark work in the evolution of institutional
economics."
Public Choice "This book is an excellent read. Written with great
care, refreshing intellectual honesty and with a wide canvas of the
relevant literature it should be on the “essential” reading lists
of all final year and post-graduate economics students. It will
also be of great interest to students of the other social sciences
who would like a point of entry to the inner mysteries of the
faith."
Norman Clark, University of Sussex
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