Hodgson, Geoffrey M.
Conceptualizing Capitalism: Institutions, Evolution, Future
- ISBN 13:
- 9780226419695
- author:
- Hodgson, Geoffrey M.
- format:
- Paperback
- publisher:
- University of Chicago Press
- language:
- English
- Publication Year:
- 2016
- Pages:
- 456
- Dimensions:
- 22.86 x 15.24 x 2.59 centimetres
- Genre:
- Business, Economics, Macroeconomics
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
Capitalism's emergence was marked by an explosion of economic productivity. However, what other key institutions fostered this development? Until now, economists and social scientists have lacked a precise conceptual framework to answer this question. Geoffrey M. Hodgson offers a new approach in Conceptualizing Capitalism, drawing on legal institutionalism. He establishes that law and the state played a constitutive role in capitalism's emergence, often overlooked by scholars. Private property and markets are central, but they depend on an effective legal framework. Hodgson identifies key institutional developments in eighteenth-century Europe that coincided with capitalism's rise. This book provides a more precise conceptual framework for understanding capitalism's nature and its possible future. It considers the effects of globalization, inequality, and challenges to America's hegemony by China and others, offering insights into the twenty-first century.
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