The Fundamental Institutions of Capitalism

This book presents a radical institutional approach to the analysis of capitalism. The author discusses a wide range of topics and puts forward a number of arguments that expose common ground in both neoclassical and Marxist orthodoxies.

The Fundamental Institutions of Capitalism presents a radical institutional approach to the analysis of capitalism. Ernesto Screpanti puts forward a number of provocative arguments that expose common ground in both neoclassical and Marxist orthodoxies. It will appeal to a broad audience of social scientists including advanced students and professionals with an interest in politics and economics.

Introduction 1. The Employment Contract, Transaction Institutions and Capitalism: i The Employment Contract; ii Transaction Institutions and Social Reproduction 2. Individuals, Culture and Behavioural Institutions: i Premises; ii Bounded Rationality and Intentional Behaviour; iii The Multiple Self and False Conditions; iv The Ideological Conditions of Social Reproduction; v Conclusions 3. The State and Normative Institutions i Where Does the State Come From? ii The State Action 4. Forms of Co-operation and Power: i Co-operation; ii Power 5. Production Governance Structures: i The Capitalist Firm; ii The Market; iii The Governance of Knowledge Production 6. Different Forms of Capitalism: i Institutional Systems; ii Forms of Capitalism Conclusions: Toward the Autonomy of Capital

Ernesto Screpanti is Professor of Political Economy and Professor of the History of Political Economy at the University of Siena. He has published extensively on the economics of labour, institutional economics, the history and methodology of economics, his previous publications include An Outline of the History of Economic Thought, with S. Zamagni,