Geoff Hodgson's innovative and important new book is about the future of economics as a viable discipline. It examines not only evolutionary economics but the development of economic theory during the twentieth century. The book reflects on the origins and consequences of the narrowing and increasing irrelevance of mainstream economics, suggesting that it will be inadequate to cope with the complex ideas of the new millennium.Geoff Hodgson analyses some of the attempts to redirect theoretical economics to real world issues. He proposes a move away from mathematical formalization, greater tolerance given to different approaches and the possibility of learning from other sciences especially biology. He suggests that the toleration of a plurality of theoretical approaches in economics - including institutional and evolutionary approaches - based on a common orientation towards real world economies is the best overall strategy for future theoretical advance.
A unique and important contribution to our understanding, it will be welcomed by academics and researchers working in all fields of economics, especially evolutionary economics as well as by other social scientists.
- ISBN10 1858988136
- ISBN13 9781858988139
- Publish Date 24 February 1999
- Publish Status Active
- Publish Country GB
- Imprint Edward Elgar Publishing Ltd
- Format Hardcover
- Pages 360
- Language English