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Conceptualizing Capitalism – Institutions, Evolution, Future - Chicago Scholarship Online
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Conceptualizing Capitalism: Institutions, Evolution, Future

Geoffrey M. Hodgson


The aim of this book is to define the nature of capitalism. But our understanding of that system has been impaired by the deep corruption within the social sciences of key terms such as property, exchange, markets, and capital. Using a new theoretical approach called legal institutionalism (which differs profoundly from both Marxism and much pro-market libertarianism) this book defines these key concepts clearly, and establishes the constitutive role of law and the state within capitalism. Capitalism emerged fully in the eighteenth century, when developments in financial institutions enabled a ... More

Keywords: capitalism, property rights, markets, financial institutions, capital, state, inequality, legal institutionalism

Bibliographic Information

Print publication date: 2015 Print ISBN-13: 9780226168005
Published to Chicago Scholarship Online: January 2016 DOI:10.7208/chicago/9780226168142.001.0001


Affiliations are at time of print publication.

Geoffrey M. Hodgson, author