Wrong Turnings Hodgson, Geoffrey M
2018, 2017-12-22
eBook
The Left is in crisis. Despite global economic turbulence, left-wing political parties in many countries have failed to make progress in part because they have grown too ideologically fragmented. ...Today, the term Left is associated with state intervention and public ownership, but this has little in common with the original meaning of the term. What caused what we mean by the Left to change, and how has that hindered progress?With Wrong-Turnings, Geoffrey M. Hodgson tracks changes in the meaning of the Left and offers suggestions for how the Left might reclaim some of its core values. The term Left originated during the French Revolution, when revolutionaries sought to abolish the monarchy and privilege and to introduce a new society based on liberty, equality, fraternity, and universal rights. Over time, however, the meaning radically changed, especially through the influence of socialism and collectivism. Hodgson argues that the Left must rediscover its roots in the Enlightenment and readopt Enlightenment values it has abandoned, such as those concerning democracy and universal human rights. Only then will it be prepared to address contemporary problems of inequality and the survival of democracy. Possible measures could include enhanced educational provisions, a guaranteed basic income, and a viable mechanism for fair distribution of wealth. Wrong- Turnings is a truly pathbreaking work from one of our most prolific and respected institutional theorists. It will change our understanding of how the left got lost.
A few centuries ago, capitalism set in motion an explosion of economic productivity. Markets and private property had existed for millennia, but what other key institutions fostered capitalism's ...relatively recent emergence? Until now, the conceptual toolkit available to answer this question has been inadequate, and economists and other social scientists have been diverted from identifying these key institutions.With Conceptualizing Capitalism, Geoffrey M. Hodgson offers readers a more precise conceptual framework. Drawing on a new theoretical approach called legal institutionalism, Hodgson establishes that the most important factor in the emergence of capitalism—but also among the most often overlooked—is the constitutive role of law and the state. While private property and markets are central to capitalism, they depend upon the development of an effective legal framework. Applying this legally grounded approach to the emergence of capitalism in eighteenth-century Europe, Hodgson identifies the key institutional developments that coincided with its rise. That analysis enables him to counter the widespread view that capitalism is a natural and inevitable outcome of human societies, showing instead that it is a relatively recent phenomenon, contingent upon a special form of state that protects private property and enforces contracts. After establishing the nature of capitalism, the book considers what this more precise conceptual framework can tell us about the possible future of capitalism in the twenty- first century, where some of the most important concerns are the effects of globalization, the continuing growth of inequality, and the challenges to America's hegemony by China and others.
The 38 selections in the volume include complete texts of all of Veblen’s major articles and book reviews from 1882 to 1914, plus key chapters from his books The Theory of the Leisure Class (1899), ...The Theory of Business Enterprise (1904) and The Instinct of Workmanship (1914). These writings present a wide range of Veblen’s most significant contributions, especially with respect to the philosophical and psychological foundations of economics, sociology, and other social sciences.
A thorougly comprehensive volume, this is the only collection to present Veblen’s writings in chronological order, so that their development can be correctly understood. The volume is edited by a leading sociologist and a prominent economist, who provide extensive introductory essays which include item-by-item commentaries that place each selection in its intellectual-historical context and in relation to subsequent developments in economics. It makes for a valuable source of reference both for students and researchers alike.
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General Introduction Part I: The Early Works 1. Introduction 2. ‘Mill’s Theory of the Taxation of Land’ (1882) (Johns Hopkins University Circulars) 3. ‘Kant’s Critique of Judgment’ (1884) (Journal of Speculative Philosophy) 4. ‘Some Neglected Points in the Theory of Socialism’ (1891) (Annals of the American Academy of Political and Social Science) 5. ‘Böhm-Bawerk’s Definition of Capital and the Source of Wages’ (1892) (Quarterly Journal of Economics) 6. ‘The Food Supply and the Price of Wheat’ (1893) (Journal of Political Economy) 7. Review of The Land-Systems of British India by B.H. Baden-Powell (1893) (Journal of Political Economy) 8. Review of Der Parlamentarismus, die Volksgesetzgebung und die Socialdemokratie by Karl Kautsky (1894) (Journal of Political Economy) 9. ‘The Economic Theory of Women’s Dress" (1894) (Popular Science Monthly) 10. Review of Socialisme et Science Positive by Enrico Ferri (1896) (Journal of Political Economy) 11. Review of Einfuhrung in den Socialismus by Richard Calwer (1897) (Journal of Political Economy) 12. Review of Essais sur la conception matérialiste de l’histoire by Antonio Labriola (1897) (Journal of Political Economy) 13. Review of Die Marxistische Socialdemokratic by Max Lorenz (1897) (Journal of Political Economy) 14. Review of Über einige Grundfragen der Socialpolitik und der Volkswirtschaftslehre by Gustav Schmoller (1898) Journal of Political Economy) 15. Review of Aristocracy and Evolution: A Study of the Rights, the Origins and the Social Functions of the Wealthier Classes by William H. Mallock (1898) (Journal of Political Economy) Part II: The Flowering of Veblenian Theory 16. ‘Why Is Economics Not an Evolutionary Science?’ (1898) (Quarterly Journal of Economics) 17. ‘The Instinct of Workmanship and the Irksomeness of Labor’ (1898) (American Journal of Sociology) 18. The Beginnings of Ownership’ (1898) (American Journal of Sociology) 19. ‘The Barbarian Status of Women’ (1899) (American Journal of Sociology) 20. ‘The Preconceptions of Economic Science,’ Parts I, II, III (1899-1900) (Quarterly Journal of Economics) 21. Review of The Development of English Thought: A Study in the Economic Interpretation of History by Simon N. Patten (1899) (Annals of the American Academy of Political and Social Science) 22. The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions, Chapter 8 (1899) Part III: Critiques and Further Developments 23. Introduction 24. ‘Mr. Cummings’s Strictures on "The Theory of the Leisure Class" (1899) Journal of Political Economy) 24. Review of Social Laws: An Outline of Sociology by Gabriel Tarde (1900) (Journal of Political Economy) 25. ‘Industrial and Pecuniary Employments’ (1901) (Publications of the American Economic Association) 26. ‘Gustav Schmoller’s Economics’ (1901) (Quarterly Journal of Economics) 27. Review of Psychologie économique by Gabriel Tarde (1902) (Journal of Political Economy) 28. Review of Der moderne Kapitalismus by Werner Sombart (1903) (Journal of Political Economy) 29. Review of Pure Sociology: A Treatise Concerning the Origin and Spontaneous Development of Society by Lester Ward (1903) (Journal of Political Economy) 30. The Theory of Business Enterprise, Chapter 7 (1904) Part IV: The Penultimate Period 31. Introduction 32. ‘The Place of Science in Modern Civilisation’ (1906) (American Journal of Sociology) 33. ‘The Socialist Economics of Karl Marx and His Followers,’ Parts I & II (1906-07) (Quarterly Journal of Economics) 34. ‘Professor Clark’s Economics’ (1908) (Quarterly Journal of Economics) 35. ‘The Evolution of the Scientific Point of View’ (1908) (University of California Chronicle) 36. ‘On the Nature of Capital I,’ Parts I & II (1908) (Quarterly Journal of Economics) 37. ‘Fisher’s Capital and Income’ & ‘Fisher’s Rate of Interest’ (1908-09) (Political Science Quarterly) 38. ‘The Limitations of Marginal Utility’ (1909) (Journal of Political Economy) 39. ‘The Mutation Theory and the Blond Race’ (1913) (Journal of Race Development) 40. The Instinct of Workmanship, and the State of the Industrial Arts, Chapters 1 & 2 (1914) Epilogue: Veblen’s Writings after 1914
Charles Camic is John Evans Professor of Sociology at Northwestern University. Previously, he was Martindale-Bascom Professor of Sociology at the University of Wisconsin-Madison.
Geoffrey M. Hodgson is a Research Professor in Business Studies at the University of Hertfordshire. He is an academician of the Academy of Social Sciences and the author of of over 100 academic journal articles, as well as having written numerous books.
This exciting new book from Geoffrey Hodgson is eagerly awaited by social scientists from many different backgrounds. This book charts the rise, fall and renewal of institutional economics in the ...critical, analytical and readable style that Hodgson's fans have come to know and love, and that a new generation of readers will surely come to appreciat
In arguably his most important book to date, Hodgson calls into question the tendency of economic method to try and explain all economic phenomena by using the same catch-all theories and dealing in ...universal truths. He argues that you need different theories to analyze different economic phenomena and systems and that historical context must be taken into account. Hodgson argues that the German Historical School was key in laying the foundations for the work of the pioneer institutional economists, who themselves are gaining currency today; and that the growing interest in this school of thought is contributing to a more complete understanding of socio-economic theory.
'I tremendously enjoyed reading this book. Geoffrey Hodgson ... tells a fascinating tale of how economics and social science more generally became abstract and formalistic sciences with little interest in historical and institutional particularities and he develops the beginnings of an account of how the perceived shortcomings may be ameliorated ... Hodgson has done a great job in drawing attention to the fact that economic laws are true only on account of particular arrangements of institutional and cultural facts. He has written an exciting history of how this matter has been treated in the economic literature from Marx to the present day.' - Julian Reiss, Economic History Services
'An outstanding book which has both depth and breadth and is fun to read, in part because Hodgson is an excellent writer and scholar ... This is a five star text - clearly an excellent choice for individual reading and use in graduate courses in both history of thought and institutional economics.' - Professor Doug Brown (Northern Arizona University, USA), Journal of Economic Issues,
'An important contribution towards understanding the apparent confusion of economic thinking' - Professor Roger Backhouse (University of Birmingham, UK), Journal of the History of Economics
'Hodgson provides us with specific discussions on topics that can otherwise seem discouragingly abstract, and sometimes obscure! His book raises several provocative and important questions which should be recommendation enough to read.' - Dr Cristel De Rouvray (London School of Economics, UK), Business History
'A wonderful work of intellectual retrieval and redemption that brings back to life a now altogether obscure and increasingly forgotten trend in the evolution of the social sciences. Through great erudition, stylistic care and virtuosity, and splendid documentation and notation, Hodgson re-animates the historically grounded argumentation of earlier generations of economists who sought to frame their work less in terms of a general theory of human behavior and more with reference to the significance of historical change and detail.' - Professor Michael Bernstein (University of California, San Diego, USA), Business History Review
'All those who have felt uneasy about the economic-development doctrine that has been laid down over the past fifty years by the high priests of professional economics ... will find solace and vindication in Geoffrey Hodgson's brilliant book.' - Professor George C. Lodge (Harvard Business School, USA), Challenge
Geoffrey M. Hodgson is a Research Professor in Business Studies at the University of Hertfordshire. He has published widely in the academic journals and his previous books include Economics and Utopia (Routledge, 1999)
Economics and Utopia Hodgson, Geoffrey M.
1999, 20020104, 1998, 2002-01-04
eBook
Since the fall of the Berlin Wall we have been told that no alternative to Western capitalism is possible or desirable. This book challenges this view with two arguments. First, the above premise ...ignores the enormous variety within capitalism itself. Second, there are enormous forces of transformation within contemporary capitalisms, associated with moves towards a more knowledge-intensive economy. These forces challenge the traditional bases of contract and employment, and could lead to a quite different socio-economic system. Without proposing a static blueprint, this book explores this possible scenario.
Qué son las instituciones? Hodgson, Geoffrey Martin
CS (Universidad Icesi. Facultad de Derecho y Ciencias Sociales),
07/2011
8
Journal Article
Open access
Aunque el término institución tiene una larga historia en las ciencias sociales, aún no existe consenso en torno a su definición. El autor primero muestra las ambigüedades que presentan los ...planteamientos de North al limitar el concepto de institución a los sistemas de reglas formales que rigen a las organizaciones. Luego, para superar estas dificultades, propone un concepto más amplio que tiene en cuenta la base informal de todo comportamiento estructurado y duradero.
Definitions are crucial for institutional analysis. This article explains the nature of taxonomic definitions, with particular attention to their use in economics and other social sciences. Taxonomic ...definitions demarcate one species of entity from another. They are vital for the communication of meaning between scientists, who must share some basic conception of what types of entity they are investigating, to establish a division of labour over subsequent theoretical analysis and empirical investigation of the type of entity defined. Generally, taxonomic definitions build on past usage and are parsimonious: they are not meant to be explanations or descriptions. By contrast, overloaded taxonomic definitions can create square-one disagreement about what is being investigated. As illustrative examples, the paper considers different degrees of progress with attempts to define firms, markets and institutions.
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