How Economics Forgot History

'Hodgson's erudition is deeply impressive. Overall he must know more than anyone in the world about the roots of historical and institutional economics. In this volume the importance of thinking about institutions comes across very clearly, as does the contribution of the old institutional economics to this endeavour. This is an important book, which clears the ground for a new, constructive approach to economics that can contribute to a deeper understanding of the world in which we live.' - Professor Paul Omerod, Volterra Ltd., UK; 'In this outstanding, thought-provoking and lucidly written book, Geoffrey M. Hodgson explores the important relationship between economic theory and history, challenging the universalistic doctrine of neoclassical economics. He succeeds impressively...The book provides effective guidance for economists who are prepared to rethink theory formation in a novel way.' - rofessor Kurt Dopfer, University of St. Gallen, Switzerland; 'This is a splendid piece of intellectual history. Hodgson breathes new life into past ideas and the issues surrounding them. These revived ideas are terribly important for the current generation of economists, both mainstream and heterodox. It is the first book I have seen that gets the complex story of historismus into a proper intellectual context.' - Professor Paul Dale Bush, California State University at Fresno, USA; 'This is an impressive study relating the German historical school to institutional and modern economic theory. It shows that Frank Hahn was wrong: the insights of history have not been absorbed; economists need to know the history of ideas and the history of the economy.' - Professor David Colander, Middlebury College, Vermont, USA