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From Social Theory to Explaining Sickonomics: A Response to Dimitris Milonakis and Ben Fine

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  • Geoffrey M. Hodgson

Abstract

This response shows that, in their reply to my critique of their work, Ben Fine and Dimitris Milonakis generally maintain the impression that there is a single, widely accepted definition of methodological individualism, but they do not identify it. They assert that social structures (undefined but seemingly specified to exclude law and institutions) have ‘analytical priority’ and logically (but tacitly) imply that individuals should have no part in the analysis of social or economic phenomena. They mischaracterise Hodgson's (2011) position on Marshall by quoting just one part-sentence out of context. Fine, Milonakis and Hodgson agree that the intellectual roots of the predominance of technique over substance in modern economics can partly be traced to the 1870--1900 period, but disagree on what they are.

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  • Geoffrey M. Hodgson, 2012. "From Social Theory to Explaining Sickonomics: A Response to Dimitris Milonakis and Ben Fine," Review of Social Economy, Taylor & Francis Journals, vol. 70(4), pages 492-507, December.
    • Handle: RePEc:taf:rsocec:v:70:y:2012:i:4:p:492-507
    DOI: 10.1080/00346764.2012.690608
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    1. Hodgson, Geoffrey M., 2012. "From Pleasure Machines to Moral Communities," University of Chicago Press Economics Books, University of Chicago Press, number 9780226922713, December.
    2. Geoffrey M. Hodgson, 1999. "Evolution and Institutions," Books, Edward Elgar Publishing, number 1481.
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