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Socio-political Disruption and Economic Development

In: Rethinking Economics

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  • Geoffrey M. Hodgson

Abstract

Rethinking Economics is a major contribution to the reconstruction of an economic theory appropriate to the 21st century. Just as major changes are occurring in the world economy, economics itself is on the brink of change. Orthodox economics is now widely criticized for its sterility and its limited applicability to real-world economic problems. Standard theoretical tools such as general equilibrium theory are now regarded, even by their leading practitioners, as highly limited and problematic.

Suggested Citation

  • Geoffrey M. Hodgson, 1991. "Socio-political Disruption and Economic Development," Chapters, in: Geoffrey M. Hodgson & Ernesto Screpanti (ed.), Rethinking Economics, chapter 10, pages 153-171, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:227_10
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    Keywords

    Economics and Finance;

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