The Wealth of a Nation

"In this book, one of the most respected experts on the conceptual definition of capitalism traces its origins to England and shows the massive transformation that took place in the country until the early nineteenth century. This book considers the reasons for the dramatic rise in economic activity and offers a conceptual framework to help to explain the evolution of the foundational institutions of English capitalism. Hodgson's unique perspective lies in his understanding of capital as finance and not goods, and he shows how in this light what was developed in Britain in the eighteenth century was capitalism. For Hodgson the central importance lies in institutions that enable the raising of money for innovation and investment, but he argues economists have paid insufficient attention to the institutional conditions required. This book offers a novel and authoritative account of the events and processes that led to the consolidation of capitalism in England, whose features were copied and adapted by other countries around the world"--