A conversation with Geoff Hodgson

Francesca Gagliardi, David Gindis and Geoffrey Hodgson ()

Chapter 21 in Institutions and Evolution of Capitalism, 2019, pp 328-352 from Edward Elgar Publishing

Abstract: The interview addresses some of the main threads that run through Geoff Hodgson’s work. These include the problems with the neoclassical utility maximization framework, the necessity to include moral motivations in a theory of human behaviour, and the requirement that such a theory be consistent with evidence from evolutionary biology. These requirements lead to a distinction between different kinds of, and reasons for, rule-following behaviour. Important issues of economic methodology, including the role of abstraction, the importance of historical specificity and the value of heuristic explanatory devices, are also covered. The present position of heterodox economics is critically assessed in terms of its failure to appreciate that the advancement of science requires consensus-forming mechanisms and quality assurance institutions. The interview closes with an overview of the strategy of the Journal of Institutional Economics and interdisciplinary institutional research more generally.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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