Description
Book SynopsisGeoff Hodgson has made substantial contributions to institutional and evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this book features original contributions by world-leading scholars from fields that have played a significant role in influencing his thinking or represent key debates to which he has contributed.
Building on some of the central philosophical and methodological foundations underlying Hodgson's thinking, the book is organized around the recurring themes of institutions, evolution and capitalism. The contributors explore key connections between philosophy, the history of economic thought, and institutional and evolutionary economics in the light of Hodgson's often path-breaking work.
A vital read for institutional, evolutionary and heterodox economists, this book sheds new light on Hodgson's position in these fields. Drawing together critical insights, this is also an important book for economics scholars looking to improve their understanding of current theory.
Contributors include: M.C. Becker, C. Camic, J.B. Davis, S. Deakin, K. Dopfer, G. Dosi, S. Dow, F. Gagliardi, D. Gindis, J. Groenewegen, G.M. Hodgson, T. Knudsen, R.N. Langlois, T. Lawson, L. Marengo, C. Ménard, J.S. Metcalfe, P. Mirowski, A. Nuvolari, U. Pagano, J. Potts, J.W. Stoelhorst, A. Tylecote, V.J. Vanberg, J. Vromen
Trade Review'We are in an era when fundamental debates about the nature of the economy and economics are not mere academic curiosities but an urgent necessity for society. Long-dominant theories have crumbled and major challenges loom. Bold new thinking is required and few have been bolder than Geoffrey Hodgson. This volume, by a distinguished group of scholars, gives new insights into Hodgson's decades-long body of work and will surely spark new ideas and debate. The economy is an evolutionary system and someday future historians will say ''Hodgson was right.''' --Eric Beinhocker, University of Oxford, UK and author of
The Origin of Wealth'This impressive collection is a fitting tribute to Geoff Hodgson, with substantial contributions from senior colleagues covering the many areas in economics in which he has worked over the course of a long and successful career.'
--Jochen Runde, University of Cambridge, UK
'Geoffrey Hodgson has for some time been one of the most creative and provocative writers arguing for a more evolutionary economics that paid more attention to the institutions driving and molding economic change. This collection of essays in his honor is of broad scope and high quality. They provide a pleasurable, informative read.'
--Richard R. Nelson, Columbia University, US
Table of ContentsContents: PART I INTRODUCTION 1 Institutions and evolution of capitalism in Geoff Hodgson’s work 2 Francesca Gagliardi and David Gindis PART II FOUNDATIONS 2 Geoff Hodgson on pluralism and historical specificity 14 Sheila C. Dow 3 Mathematical modelling in economics: seeking a rationale 29 Tony Lawson 4 Dissembling nature, elusive economy 44 Philip Mirowski 5 The rest of the resume: Veblen’s teaching and service activities 62 Charles Camic 6 Hodgson, cumulative causation and reflexive economic agents 78 John B. Davis PART III INSTITUTIONAL ECONOMICS 7 Bridging Original and New Institutional Economics? 93 John Groenewegen 8 Dimensionalizing institutions 110 Claude Ménard 9 Juridical ontology and the theory of the firm 127 Simon Deakin 10 The corporation is not a nexus of contracts: it’s an iPhone 142 Richard N. Langlois 11 Property, possession and knowledge 157 Ugo Pagano 12 Near misses – a capitalist aborted take-off and a no-show: the United Provinces and Ming China 178 Andrew Tylecote 13 Institutions are neither autistic maximizers nor flocks of birds: self-organization, power and learning in human organizations 194 Giovanni Dosi, Luigi Marengo and Alessandro Nuvolari PART IV EVOLUTIONARY ECONOMICS 14 Industry and Trade : Marshall’s magnificent dynamics 215 J. Stanley Metcalfe 15 Generalized Darwinism, the nature of selection and market efficiency 231 J.W. Stoelhorst 16 Cultural evolution, group selection and downward causation 250 Viktor J. Vanberg 17 Generalized Darwinism, routines and morality 264 Jack Vromen 18 The ubiquity of habits and routines and their contribution to management theory 282 Markus C. Becker 19 The role of selection processes in organizational evolution 299 Thorbjørn Knudsen 20 Why is evolutionary economics not an empirical science? 314 Kurt Dopfer and Jason Potts PART V GEOFF HODGSON ON GEOFF HODGSON 21 A conversation with Geoff Hodgson 328 Francesca Gagliardi, David Gindis and Geoffrey M. Hodgson Index 353
