The twenty-first century has seen major challenges to freedom and democracy. Authoritarianism is on the rise and democracy is in retreat. Some promote individualism and markets as the solution to almost every problem. On the other side there are those who champion collectivism and full public ownership. Neither side is convincing. Unrestrained capitalism has exacerbated inequality. Socialism in practice has ended democracy. Effective defenders of liberty and human flourishing must find a different course. This book argues for a pragmatic, social democratic liberalism that avoids unrealistic extremes and tackles major problems such as inequality and climate change.
In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this volume brings together original contributions by world-leading scholars in specific areas that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the most significant philosophical and methodological foundations underlying Hodgson's work, the volume is organised around the recurring themes of institutions, evolution and capitalism.
Examining the “who” (agents), “how” (policy instruments) and “why” (societal legitimacy) of the governance process, this book presents a conceptual framework about the governance of change in socio-technical systems. Bridging the gap between disciplinary fields, expert contributions provide innovative empirical cases of different modes of governing change. The Governance of Socio-Technical Systems offers a stepping-stone towards building a theory of governance of change and presents a new research agenda on the interaction between science, technology and society.
Some famous pioneers together with the most promising new practitioners in the field show within this book how they define their subject. This is an authoritative survey of important branches of evolutionary economics, containing innovative new perspectives on market dynamics and evolutionary institutional mechanisms. The authors also tackle enduring problems in the field such as profound uncertainty and the significance of knowledge in economics.
Property Rights, Consumption and the Market Process extends property rights theory in new and exciting directions by combining
complementary insights from Austrian, institutional and evolutionary economics. Mainstream economics tends to analyse property rights within a static equilibrium framework. In this book David Andersson reformulates property rights theory as an evolutionary theory of the market process.
China’s long-term economic success is driven by new firms, new sectors and new business practices. This book explores the establishment of new private firms and listed companies, the development of knowledge industries, in particular the IT and banking sectors and the co-evolution of public governance and business institutions.
It is now widely acknowledged that institutions are a crucial factor in economic performance. Major developments have been made in our understanding of the nature and evolution of economic institutions in the last few years. This book brings together some key contributions in this area by leading internationally renowned scholars including Paul A. David, Christopher Freeman, Alan P. Kirman, Jan Kregel, Brian J. Loasby, J. Stanley Metcalfe, Bart Nooteboom and Ugo Pagano.
This essential reader covers topics such as the relationship between institutions and individuals, institutions and economic development, the nature and role of markets, and the theory of institutional evolution. The book not only outlines cutting-edge developments in the field but also indicates key directions of future research for institutional and evolutionary economics.
Economics Confronts the Economy is a challenging and unorthodox look at contemporary economic analysis. Philip Klein presents a highly reasoned and yet personal view of the state of economics today. While his views may be contentious to some, it is an accessible book that will provoke discussion and debate to a wide readership.
What is the New Economy, what makes it new, and what are the implications for antitrust, regulation and macroeconomic policy? Providing a non-technical and compelling analysis of the modern macro-economy, the contributors to this volume, eminent scholars all, provide their views on the New Economy from a variety of perspectives.