Institutions and Evolution of Capitalism Essays in Honour of Geoffrey M. Hodgson Edited by Francesca Gagliardi and David Gindis In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this volume brings together original contributions by world-leading scholars in specific areas that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the most significant philosophical and methodological foundations underlying Hodgson's work, the volume is organised around the recurring themes of institutions, evolution and capitalism. PART I INTRODUCTION 1 Institutions and evolution of capitalism in Geoff Hodgson's work Francesca Gagliardi and David Gindis PART II FOUNDATIONS 2 Geoff Hodgson on pluralism and historical specificity Sheila C. Dow 3 Mathematical modelling in economics: seeking a rationale Tony Lawson 4 Dissembling nature, elusive economy Philip Mirowski 5 The rest of the resume: Veblen's teaching and service activities Charles Camic 6 Hodgson, cumulative causation and reflexive economic agents John B. Davis PART III INSTITUTIONAL ECONOMICS 7 Bridging Original and New Institutional Economics? John Groenewegen 8 Dimensionalizing institutions Claude Ménard 9 Juridical ontology and the theory of the firm Simon Deakin 10 The corporation is not a nexus of contracts: it's an iPhone Richard N. Langlois 11 Property, possession and knowledge Ugo Pagano 12 Near misses - a capitalist aborted take-off and a no-show: the United Provinces and Ming China Andrew Tylecote 13 Institutions are neither autistic maximizers nor flocks of birds: self-organization, power and learning in human organizations Giovanni Dosi, Luigi Marengo and Alessandro Nuvolari PART IV EVOLUTIONARY ECONOMICS 14 Industry and Trade : Marshall's magnificent dynamics J. Stanley Metcalfe 15 Generalized Darwinism, the nature of selection and market efficiency J.W. Stoelhorst 16 Cultural evolution, group selection and downward causation Viktor J. Vanberg 17 Generalized Darwinism, routines and morality Jack Vromen 18 The ubiquity of habits and routines and their contribution to management theory Markus C. Becker 19 The role of selection processes in organizational evolution Thorbjørn Knudsen 20 Why is evolutionary economics not an empirical science? Kurt Dopfer and Jason Potts PART V GEOFF HODGSON ON GEOFF HODGSON 21 A conversation with Geoff Hodgson Francesca Gagliardi, David Gindis and Geoffrey M. Hodgson CRITICAL ACCLAIM 'We are in an era when fundamental debates about the nature of the economy and economics are not mere academic curiosities but an urgent necessity for society. Long-dominant theories have crumbled and major challenges loom. Bold new thinking is required and few have been bolder than Geoffrey Hodgson. This volume, by a distinguished group of scholars, gives new insights into Hodgson's decades-long body of work and will surely spark new ideas and debate. The economy is an evolutionary system and someday future historians will say "Hodgson was right."' - Eric Beinhocker, University of Oxford, UK and author of The Origin of Wealth 'This impressive collection is a fitting tribute to Geoff Hodgson, with substantial contributions from senior colleagues covering the many areas in economics in which he has worked over the course of a long and successful career.' - Jochen Runde, University of Cambridge, UK 'Geoffrey Hodgson has for some time been one of the most creative and provocative writers arguing for a more evolutionary economics that paid more attention to the institutions driving and molding economic change. This collection of essays in his honor is of broad scope and high quality. They provide a pleasurable, informative read.' - Richard R. Nelson, Columbia University, US 'Whether you sign on to every proposition in neo-institutionalism or not, you will want to own this stunning volume. All the best bowlers are here, at the top of their games, the better to test your batting skills. It's a testimony to Hodgson's breadth and brilliance, but more: the state of play in a major field of economics.' - Deirdre Nansen McCloskey, University of Illinois at Chicago, US