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Few economists can claim the influence—or fame—of F. A. Hayek. Winner of the Nobel Prize, Hayek was one of the most consequential thinkers of the twentieth
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Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on i
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The textbook explains the emergence, evolution, and working of the capitalist system with the help of some of the major principles and theories of economics. It
Conceptualizing Capitalism
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Capitalism is the dominant economic framework in modern history, but it s unclear how it really works. Relying on the free movement and spontaneous coordination
Institutions and Evolution of Capitalism
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In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of