Ben Waber reviewed Conceptualizing Capitalism by Geoffrey M. Hodgson
The Best Economics Book Ever
5 stars
I don't issue this praise lightly: this is the best economics book ever written. The barrier to entry for this book is a bit high, but if you have a grounding in the space already be prepared for a tour de force. Hodgson methodically works through the notion of "capitalism" - its constituent parts, theoretical and empirical underpinnings, and its real world implications - with a depth of research that is awe-inspiring (the citations here are incredible). By considering the inherent entanglement of legal, social, and economic systems, Hodgson demonstrates the importance of foregrounding these relationships in any analysis. What emerges from this book is both a rigorous definition and understanding of capitalism, and economics more broadly, with robust skewering of simplistic analyses from the Marxist, neoclassical, and neoliberal traditions - you almost never get all of these in one volume. This is one for the ages. Highly recommend
I don't issue this praise lightly: this is the best economics book ever written. The barrier to entry for this book is a bit high, but if you have a grounding in the space already be prepared for a tour de force. Hodgson methodically works through the notion of "capitalism" - its constituent parts, theoretical and empirical underpinnings, and its real world implications - with a depth of research that is awe-inspiring (the citations here are incredible). By considering the inherent entanglement of legal, social, and economic systems, Hodgson demonstrates the importance of foregrounding these relationships in any analysis. What emerges from this book is both a rigorous definition and understanding of capitalism, and economics more broadly, with robust skewering of simplistic analyses from the Marxist, neoclassical, and neoliberal traditions - you almost never get all of these in one volume. This is one for the ages. Highly recommend