New PDF release: The Evolution of Institutional Economics: Agency, Structure

By Geoffrey M. Hodgson

ISBN-10: 0415322537

ISBN-13: 9780415322539

This interesting new ebook from Geoffrey Hodgson is eagerly awaited by means of social scientists from many alternative backgrounds. This publication charts the increase, fall and renewal of institutional economics within the serious, analytical and readable type that Hodgson's lovers have come to understand and love, and new new release of readers would certainly come to appreciate.


Reconstructs the historical past of institutional economics in a quest for insights into theoretical difficulties of organization, constitution, emergence, and social evolution.
–Journal of financial Literature, 12/2004

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Additional resources for The Evolution of Institutional Economics: Agency, Structure and Darwinism in American Institutionalism (Economics as Social Theory)

Sample text

Furthermore, these deeper questions of explanation become vital once issues such as the influence of culture, the emergence and durability of institutions, and long-term economic development, become agendas of enquiry. It is important to understand how individual interactions lead to new institutional developments. But especially in the long term, it is also important to explain – at least in principle – how institutions or circumstances can affect individuals and alter their perceptions and goals.

That which is assumed by the game theorist must at some stage be explained. Agency and structure 23 In sum, attempts to conflate explanations of social phenomena upon the individual have generally failed, because some ‘social’ aspect of the individual is simply assumed and cannot conceivably be explained without reference to social relations or structures, or because it is admitted that individuals are moulded by social circumstances, or because the theorist never actually starts from individuals alone.

Hence Spencer’s notions of social structure or social organism did not amount to much more than the aggregate of individual attributes. 14 Introduction The French sociologist Émile Durkheim went much further, to emphasize that society is more than the sum of its parts. Durkheim developed his own distinctive argument that social facts were not reducible merely to individuals or their psychology. A concept of social structure is also traceable in the writings of Max Weber, but there it does not play such a strong and embracing role as in the works of Durkheim or Marx.

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The Evolution of Institutional Economics: Agency, Structure and Darwinism in American Institutionalism (Economics as Social Theory) by Geoffrey M. Hodgson

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