The Evolution of Economic Institutions

The Evolution of Economic Institutions

A Critical Reader

Edited by Geoffrey M. Hodgson

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.

Chapter 10: Uncertainty, Intelligence and Imagination: George Shackle’s Guide to Human Progress

Brian J. Loasby

Subjects: economics and finance, evolutionary economics, institutional economics


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