This book deals with a variety of issues including matters of method, particularly John R. Commons' pragmatism, the role of scarcity and conflict in economics as opposed to a presumed harmony of interest, and the importance of custom and common law as opposed to individual pleasures and pains.

The Economic mind of America examines:
* the concept of 'American' economic thought
* reassessment of pioneering American policy analysts such as Irving Fisher, Wesley Mitchell, Harold Moulton and Leo Paslovsky, as well as the theoretical contributions of Herbert Davenport and Frank Knight
* Thorstein Veblen's institutional economics and an exploration of the influence of Canadian and European economic thought
* analysis of contributions of C. S. Peirce, Alvin Johnson and science fiction author Robert A. Heinlein
* American economists' interests in in issues from 1886-1995.

In the history of economic thought, American economics is an area which has received little attention. This volume demonstrates the variety and creativity of American economics and the links between American economic thought and its particular non-European context. The book consists of selected papers from the 1996 History of Economics Society conference. The opening section examines the concept of "American" economic thought from a variety of perspectives. The following sections provide a critical reassessment of pioneering American policy analysts such as Irving Fisher, Wesley Mitchell, Harold Moulton and Leo Paslovsky, as well as the theoretical contributions of Herbert Davenport and Frank Knight. The fourth section contains a detailed account of Thorstein Veblen's institutional economics and an exploration of the influence of Canadian and European economic thought. The unusual and original contributions of C.S. Peirce, Alvin Johnson and science fiction author Robert A. Heinlein are also analyzed. The final section details American economists' interests in international issues from 1886-1995.

This book deals with a variety of issues including matters of method, particularly John R. Commons' pragmatism, the role of scarcity and conflict in economics as opposed to a presumed harmony of interest, and the importance of custom and common law as opposed to individual pleasures and pains.

This book provides a detailed picture of the institutionalist movement in American economics concentrating on the period between the two World Wars. The discussion brings a new emphasis on the leading role of Walton Hamilton in the formation of institutionalism, on the special importance of the ideals of science and social control embodied within the movement, on the large and close network of individuals involved, on the educational programs and research organizations created by institutionalists, and on the significant place of the movement within the mainstream of interwar American economics. In these ways the book focuses on the group most closely involved in the active promotion of the movement, on how they themselves constructed it, on its original intellectual appeal and promise, and on its institutional supports and sources of funding. The reasons for the movement's loss of appeal in the years around the end of World War II are also discussed, particularly in terms of the arrival of Keynesian economics, econometrics, and new definitions of science as applied to economics.

This book provides a detailed picture of the institutionalist movement in American economics concentrating on the period between the two World Wars. The discussion brings a new emphasis on the leading role of Walton Hamilton in the formation of institutionalism, on the special importance of the ideals of 'science' and 'social control' embodied within the movement, on the large and close network of individuals involved, on the educational programs and research organizations created by institutionalists and on the significant place of the movement within the mainstream of interwar American economics. In these ways the book focuses on the group most closely involved in the active promotion of the movement, on how they themselves constructed it, on its original intellectual appeal and promise and on its institutional supports and sources of funding.

This book examines and compares the two major traditions of thought that have attempted to incorporate institutions within economics. These are the "Old" (or American) Institutionalist tradition of Veblen, Mitchell, Commons and Ayres, and the "New" Institutionalism that has developed more recently from neoclassical and Austrian sources. The discussion is organized around a set of key problems involving the use of formal or nonformal analytical methods, individualist or holistic approaches, the respective roles of rational choice and rule following behavior, the relative importance of spontaneous evolution and deliberative design of institutions, and questions relating to the normative appraisal of institutions.

This book examines and compares the two major traditions of institutionalist thinking in economics: the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, and the 'new' institutionalism developed more recently from neoclassical and Austrian sources and including the writings of Coase, Williamson, North, Schotter, and many others. The discussion is organized around a set of key methodological, theoretical, and normative problems that necessarily confront any attempt to incorporate institutions (defined to include organizations, laws, and social norms) into economics. These are identified in terms of the issues surrounding the use of formal or non-formal analytical methods, individualist or holistic approaches, the respective roles of rational choice and rule-following behavior, the relative importance of the spontaneous evolution and deliberative design of institutions, and questions concerning the normative appraisal of institutions. The old and the new institutionalism have often been paired on opposite sides of these issues, and the issues themselves presented in a series of sharp dichotomies. Professor Rutherford argues, however, that matters are both more complex and more challenging. Although each tradition embodies fascinating insights into the study of economic institutions - their functioning, evolution, and impact on human welfare - neither has as yet provided fully satisfactory answers to the problems identified.

Contributing Authors Include George Elwood Nichols, Laorande Loss Woodruff, Alexander Petrunkevitch, And Many Others.

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