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Value Theory and Economic Progress: The Institutional Economics of J. Fagg Foster - The Institutional Economics of J.Fagg Foster (Paperback, Softcover reprint of the original 1st ed. 2000)
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Value Theory and Economic Progress: The Institutional Economics of J. Fagg Foster - The Institutional Economics of J.Fagg Foster (Paperback, Softcover reprint of the original 1st ed. 2000)
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J. Fagg Foster (1907-1985) was one of the most significant creators
of institutionalist economic theory in the twentieth century. He
wrote and taught in the American intellectual tradition of
Thorstein Weblen, John R. Commons, John Dewey and Clarence E.
Ayres. This tradition shares purpose and philosophy with the
European contributors, Gunnar Myrdal and K. William Kapp. Because
little of Foster's scholarly work was formally published,
professional knowledge of his extraordinary contribution is quite
limited beyond the circle of his students and colleagues. Value
Theory and Economic Progress attempts to correct that deficiency by
providing an extended characterization of this missing and crucial
component of the development of American heterodox economic
thought. Its purpose is to demonstrate the timely relevance and
significance of this model of inquiry in political economy. In
addition, this volume explains that contemporary problem solving
means changing what is' into what ought to be' through
institutional adjustments; such a demonstration is at the heart of
Foster's contribution to institutional thought.
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