From this perspective, the author takes on the ‘free marketers’ such as Milton Friedman and the ‘new institutionalism’ of Oliver Williamson. He argues against the neo-classical and Austrian views of the operation of markets, offering instead a convincing new synthesis of the work of Keynes, Veblen, Simon and Marx. ... Read moreTaking up the implications of his argument, Hodgson calls for a radically new policy perspective based on structural reform and institutional intervention.

This work will be required reading for economics students in their second and third years and will be of interest to students and academics throughout the social sciences.