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Daniel W. Bromley, Possessive individualism: a crisis of capitalism, Oxford University Press, 2019

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  • Franklin Obeng-Odoom

    (Global Development Studies and Helsinki Institute of Sustainability Science, University of Helsinki, Finland)

Abstract

Daniel W. Bromley’s new book: Possessive Individualism: A Crisis of Capitalism (2019) must be read by all institutional and evolutionary economists. The book’s history of economic thought is occasionally imprecise and its claims do not always demonstrate its treatise, itself sometimes light on empirical evidence, but, overall, Bromley’s new theory of possessive individualism provides a forensic diagnosis. It offers new explanations for the multiple crises of both capitalism and its economic ideology: neoclassical economics. The book’s call for community building as an antidote is compelling. The resulting hypotheses/research questions, among others, whether institutionalising cooperative individualism would evolve the good society is worth investigating. Evolutionary economists have a role to play in recovering this hope and, throughout the book, Bromley shows how.

Suggested Citation

  • Franklin Obeng-Odoom, 2022. "Daniel W. Bromley, Possessive individualism: a crisis of capitalism, Oxford University Press, 2019," Evolutionary and Institutional Economics Review, Springer, vol. 19(2), pages 731-738, September.
    • Handle: RePEc:spr:eaiere:v:19:y:2022:i:2:d:10.1007_s40844-022-00238-4
    DOI: 10.1007/s40844-022-00238-4
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    References listed on IDEAS

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    1. Ellen Hillbom & Jutta Bolt, 2018. "Botswana – A Modern Economic History," Palgrave Studies in Economic History, Palgrave Macmillan, number 978-3-319-73144-5, April.
    2. Obeng-Odoom,Franklin, 2020. "Property, Institutions, and Social Stratification in Africa," Cambridge Books, Cambridge University Press, number 9781108491990, October.
    3. Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, vol. 33(1), pages 16-27, March.
    4. Stephanie Seguino, 2021. "Inequality and Economic Stratification: Reflections on Bromley, Piketty, and Obeng-Odoom," Forum for Social Economics, Taylor & Francis Journals, vol. 50(2), pages 243-251, April.
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