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Book part
Publication date: 28 October 2019

Geoffrey M. Hodgson

In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of…

Abstract

In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of institutions and institutional analysis. This comment takes up both themes. Two possible strategies for institutional research are considered. Then the place and role of institutions in Austrian analysis are addressed. It is argued that Austrian thinking has been caught in a dilemma between making theory as general as possible, or of taking on board the historically specific character of key institutions in market economies. The different approaches of Ludwig Mises and Carl Menger to this quandary are compared, with attention to the central concepts of property and capital.

Details

Assessing Austrian Economics
Type: Book
ISBN: 978-1-78973-935-0

Keywords

Open Access
Article
Publication date: 16 January 2019

Geoffrey M. Hodgson

1357

Abstract

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RAUSP Management Journal, vol. 54 no. 1
Type: Research Article
ISSN: 2531-0488

Article
Publication date: 1 July 1992

Geoffrey M. Hodgson

Marx is widely regarded today as an “evolutionary”economist. However, what is clear from a close examination of thewritings of both Marx and Engels is that they did not…

Abstract

Marx is widely regarded today as an “evolutionary” economist. However, what is clear from a close examination of the writings of both Marx and Engels is that they did not actually take Darwin′s theory of natural selection on board. Consequently, if their theory of socio‐economic change is evolutionary, it is not so in a Darwinian sense. Considers the different sense in which the economics of Marx can be regarded as “evolutionary” and the distance between Darwinian and Marxian conceptions of natural or social change.

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International Journal of Social Economics, vol. 19 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 April 1987

Geoffrey M. Hodgson

Present‐day economics is characterised by the fragmentary and reductionist approach that typifies most social sciences. Economists generally fail to recognise that the…

Abstract

Present‐day economics is characterised by the fragmentary and reductionist approach that typifies most social sciences. Economists generally fail to recognise that the economy is merely one aspect of a whole ecological and social fabric; a living system composed of human beings in continual interaction with one another and with their natural resources, most of which are, in turn, living organisms. The basic error of the social sciences is to divide this fabric in fragments, assumed to be independent and to be dealt with in separate academic departments (Capra, 1982, pp. 194–5).

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Journal of Economic Studies, vol. 14 no. 4
Type: Research Article
ISSN: 0144-3585

Book part
Publication date: 11 December 2006

Geoffrey M. Hodgson

In much of philosophy and social theory since classical antiquity, human belief and reason have been placed in the driving seat of individual action. In particular, social…

Abstract

In much of philosophy and social theory since classical antiquity, human belief and reason have been placed in the driving seat of individual action. In particular, social theory has often taken it for granted, or even by definition, that action is motivated by reasons based on beliefs. In contrast, a minority has criticized the adoption of this ‘folk psychology’ that explains human action wholly in such ‘mind first’ terms. Critics point out that such explanations are a mere gloss on a much more complex neurophysiological reality. These dualistic and ‘mind-first’ explanations of human behavior are unable to explain adequately such phenomena as sleep, memory, learning, mental illness, or the effects of chemicals or drugs on our perceptions or actions (Bunge, 1980; Churchland, 1984, 1989; Churchland, 1986; Rosenberg, 1995, 1998; Kilpinen, 2000).

Details

Cognition and Economics
Type: Book
ISBN: 978-1-84950-465-2

Article
Publication date: 1 February 1998

Geoffrey M. Hodgson

This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously…

3272

Abstract

This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously described as “capabilities”, “resource‐based”, or “competence‐based” theories of the firm. These contrast with a different set of contractarian theories, emanating largely from the work of Coase. It is argued that the contractarian theories of the firm misleadingly assume given individuals thus neglecting processes of individual learning and transformation. Similarly underestimated is importance of technology and the persistence of variety in firm structure and performance. The genesis of the alternative, competence‐based approach is outlined, including the important subset of “evolutionary” approaches of the Nelson‐Winter type. The paper concludes with a discussion of the relevance of the competence‐based approach to strategic management.

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Journal of Economic Studies, vol. 25 no. 1
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 17 July 2019

Eric John Darling and Stephen Jonathan Whitty

The purpose of this paper is to describe the relationship between project work and stress. It examines how the conditions of project work negatively impact on an…

Abstract

Purpose

The purpose of this paper is to describe the relationship between project work and stress. It examines how the conditions of project work negatively impact on an individual’s mental and physical state of well-being, consequentially reducing organisational performance.

Design/methodology/approach

The authors systematically review the project management literature for sources of stress or stressors as it relates to Cooper and Marshall’s (1976) model of stress at work. The authors perform a thematic analysis on these stressors to reveal the “sub-stressor” conditions of project work.

Findings

A “model of projects as a source of stress at work” is developed. It shows the relationship between the sub-stressors of project work and the ill effects they have on mental and physical well-being of the project workforce.

Research limitations/implications

The findings of this study are constrained by the limits of a literature review process. This study has implications for research on stress in project work, as studies can benefit from the “model of projects as a source of stress at work”, which can be continually advanced to gain insights on the minimisation of physical and mental distress.

Practical implications

Many sectors including health, education, policing, aviation and military provide scenario-based training. In project management, a greater understanding of stressful scenarios and counter measures would improve health outcomes for project staff, human relations and project outcomes.

Originality/value

The study presents a comprehensive model of projects as a source of stress at work. It draws attention to the burden and cost of anxiety and stress placed on the project workforce. It makes the case for organisations and employees to take responsibility for the well-being of project staff.

Details

International Journal of Managing Projects in Business, vol. 13 no. 2
Type: Research Article
ISSN: 1753-8378

Keywords

Book part
Publication date: 5 January 2005

Geoffrey M. Hodgson

Friedrich Hayek, Ludwig von Mises, Ludwig Lachmann and George Shackle upheld that investigations of the causes of purposes, preferences, beliefs or behaviors by the social…

Abstract

Friedrich Hayek, Ludwig von Mises, Ludwig Lachmann and George Shackle upheld that investigations of the causes of purposes, preferences, beliefs or behaviors by the social scientist were unwarranted. Shackle proposed that human agency is an “uncaused cause.” Others admitted that human volitions and actions are caused, but ruled out explanations of these causes from social science. By considering Darwinian insights from modern evolutionary psychology, this essay criticizes the view that causal investigations of human volitions and actions are beyond social science. These insights also point to the role of habit and instinct in human behavior.

Details

Evolutionary Psychology and Economic Theory
Type: Book
ISBN: 978-0-76231-138-5

Article
Publication date: 5 January 2010

Louise Hurley, Richard Ashley, Susan Molyneux‐Hodgson, Peter Moug and Nicki Schiessel

The purpose of this paper is to introduce an approach for dynamically assessing the transition from partition to integration within a multi‐disciplinary research/urban…

Abstract

Purpose

The purpose of this paper is to introduce an approach for dynamically assessing the transition from partition to integration within a multi‐disciplinary research/urban regeneration project and its effect on the relative sustainability of interventions proposed.

Design/methodology/approach

Stated sustainability aims of the research project are deconstructed in discussion with the multi‐disciplinary teams and stakeholders involved to give transparency to values held. Indicators are defined separately by the teams and then collectively. A framework for assessment is developed from a combination of ideas in research and practice and from a social science perspective. The thesis of the project that there are “significant social, economic and environmental gains to be made by integrated and innovative interventions in urban river corridors” is iteratively tested against the framework in open discussions enabling the framework's continual refinement.

Findings

The dynamics of sustainability assessment as a process rather than a product are captured. A means of mapping the transition from multi‐disciplinary to inter‐ (or even trans‐) disciplinary research is proposed, which enables assessment of the effect of integrative working on the sustainability of interventions in complex systems of urban living.

Research limitations/implications

Frameworks of assessment are self‐limiting because they lack the ability to truly describe context, yet they are needed by assessors of sustainability in order to provide structure to discussions.

Practical implications

Proposed visual representation of this technique using up‐to‐date models will support a deliberative, discussion‐led dialogue between stakeholders.

Originality/value

The paper presents a new approach to sustainability assessment capturing the dynamics of shared learning and progress towards greater sustainability, whilst retaining the flexibility to include issues of transitory importance.

Details

Management of Environmental Quality: An International Journal, vol. 21 no. 1
Type: Research Article
ISSN: 1477-7835

Keywords

Book part
Publication date: 19 August 2003

Geoffrey M. Hodgson

Markus Becker and Thorbjørn Knudsen have rendered a valuable service by bringing the attention of the English-speaking academic world to Joseph Schumpeter’s important 1928…

Abstract

Markus Becker and Thorbjørn Knudsen have rendered a valuable service by bringing the attention of the English-speaking academic world to Joseph Schumpeter’s important 1928 article on the entrepreneur.

Details

Austrian Economics and Entrepreneurial Studies
Type: Book
ISBN: 978-1-84950-226-9

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