Geoffrey M. Hodgson (born 28 July 1946) is a Research Professor of Business Studies in the University of Hertfordshire, and also the head of the Centre for Research in Institutional Economics. He is the editor-in-chief of the Journal of Institutional Economics.

Prof. Hodgson is recognized as one of the leading figures of modern critical institutionalism which carries forth the critical spirit and intellectual tradition of the founders of institutional economics, particularly that of Thorstein Veblen. His broad research interests span from evolutionary economics and history of economic thought to Marxism and theoretical biology. He first became known for his book Economics and Institutions: A Manifesto for a Modern Institutional Economics (1988), in which modern 'mainstream' economics is criticized, and the call is made to revise economic theory on the new grounds of institutionalism. His reputation has become enhanced owing to the trilogy of more recent books - Economics and Utopia (1999), How Economics Forgot History (2001) and The Evolution of Institutional Economics (2004) all of which built Hodgson's arguments into a more rounded and powerful critique of mainstream economic theory.


In what are institutions, Hodgson give us a definition on institution, that help us to understand institutional economics