Economics and Institutions
A Manifesto for a Modern Institutional Economics
Seiten
1988
Polity Press (Verlag)
978-0-7456-0276-9 (ISBN)
Polity Press (Verlag)
978-0-7456-0276-9 (ISBN)
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Geoffrey Hodgson aims to demonstrate that social institutions play a central role in moulding preferences and guiding action.
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.
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.
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.
| Erscheint lt. Verlag | 26.2.1988 |
|---|---|
| Reihe/Serie | Aspects of Political Economy S. |
| Zusatzinfo | 1Illustrations |
| Verlagsort | Oxford |
| Sprache | englisch |
| Maße | 140 x 220 mm |
| Themenwelt | Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie |
| ISBN-10 | 0-7456-0276-2 / 0745602762 |
| ISBN-13 | 978-0-7456-0276-9 / 9780745602769 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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