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Economics today has been widely criticised as being more concerned with mathematical technique than the understanding and explanation of real world phenomena. However, one hundred years ago, in Europe and America, economics was fused with the study of history and its practitioners emphasised the importance of the understanding of specific institutions. How Economics Forgot History shows how the German historical school addressed a key problem in social science and concerned themselves with the historical specific character of economic phenomena and the need to make economic theory more...

This exciting new book from Geoffrey Hodgson is eagerly awaited by social scientists from many different backgrounds. This book charts the rise, fall and renewal of institutional economics in the critical, analytical and readable style that Hodgson's fans have come to know and love, and that a new generation of readers will surely come to appreciate.