Since the 1980s there has been a renewed interest in attempts to
introduce a sense of history into economic literature. In this
book, the authors argue that it is not possible to explain a state
of the world without first analysing the processes that lead to
that state. The contributions collected in this volume share a
critical stance towards the timelessness and a historical
theorizing of mainstream economics. Past states in the development
of an economic process set the range of possibilities for future
development and can be used to construct theories based on the
irreversibility of economic time. Many of these notable
contributors argue that the study of the history of economic
thought is important in two ways. Firstly, because it provides
important insights into the ways that economists of the past
attempted to address the problems of history and secondly, because
it helps us to understand the present state of economics as being
itself the outcome of a path dependent process. Evolutionary
economists, economic theorists and historians, as well as
economists interested in the evolution of economic and other social
institutions, will find this challenging collection of papers
essential reading.
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