Hegel, Institutions and Economics

Carsten Herrmann-Pillath is a Professor of Economics and Academic Director of the East West Centre for Business Studies and Cultural Science at the Frankfurt School of Finance and Management, GermanyIvan Boldyrev is an Associate Professor, National Research University Higher School of Economics, and Visiting Researcher, Humboldt University, Berlin.

• Introduction 1. Setting the Scene: Hegel and economics 2. Hegelian Principles of Economics 3. The Institutional Nature of Economic Action 4. Hegel, Ethics and Economics 5. Hegelian Economics in a Pragmatic Mode: Performing the economy

"The authors make a compelling case for the proposition that Hegel is the most important fountainhead for a coherent set of ideas about both economic behavior and political economy that, when expressed in an idiom closer to that of contemporary social science, deserve to be represented in both methodological and policy debates."Don Ross, Erasmus Journal for Philosophy and EconomicsThis is a remarkably rich, far-reaching book that explains the implications of Hegel’s thought for economics. It links Hegel with Smith, Sen, Searle and Aoki to address freedom and justice, individual agency and identity, brain science, performativity, institutions, financial capitalism and international trade. An important and thoughtful contribution to current debates in economics and philosophy.John B. Davis, Marquette University, USA and University of Amsterdam, The NetherlandsIn this book an internationally known economist, open to the role of culture and institutions, cooperates with a young Hegel scholar, with an interest in economics, to address the shaky economic world we live in after the financial crisis of 2007--2008. They correctly see that we are currently deficient in understanding the role of institutional arrangements for the functioning of the economy. The authors build upon Hegel’s understanding of the function of institutions for the promotion of human freedom and wellbeing. They are able to make use of their enormous knowledge of economic theory and economic facts to provide case studies which support their overall Hegelian perspective.Wilfried Ver Eecke, Georgetown University, USAIt is a great idea and ambitious intellectual enterprise to rebuild the foundation of economics on Hegel. Ivan A. Boldyrev and C. Herrmann-Pillath use Hegel’s philosophy for the reconstruction of the institutional base of modern economy. They are interpreting Hegel by Searle, and are able to show Hegel as the missing link between Adam Smith’s theory of morality and Amarty Sen’s notion of justice. It is a wonderful intellectual exercise in rethinking economics in performing the social.Birger P. Priddat, Witten/Herdecke University, GermanyIn this brilliant book Ivan Boldyrev and Carsten Herrmann-Pillath offer new insights into one of the most momentous crises of the twenty-first century -- the financial crisis of 2007--2008 and its aftermath -- by using Hegel's philosophy as key for the understanding of our times. Their expert work shows how alive Hegel's ideas can be in framing the interaction of economics, the broader culture and social institutions -- what Hegel called 'civil society'. This book presents a new 'Hegel', and through him offers us a fresh look at traditional philosophical problems as well as the example of philosophy's productive collaboration with economics and the social sciences.Angelica Nuzzo, Professor of Philosophy, City University of New York, USA