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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 collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
This collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
This collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
This collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
This collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
This collection brings together a comprehensive selection of
documents from the history of US and Canadian economic thought from
the 17th century through to 1900.
By the time of the interwar years the varied approaches often
grouped together under the banner of Institutionalism had become
firmly established as one of the most influential schools of
thought in American economics. This is a collection of writings on
the topic.
By the time of the interwar years the varied approaches often
grouped together under the banner of Institutionalism had become
firmly established as one of the most influential schools of
thought in American economics. This is a collection of writings on
the topic.
By the time of the interwar years the varied approaches often
grouped together under the banner of Institutionalism had become
firmly established as one of the most influential schools of
thought in American economics. This is a collection of writings on
the topic.
By the time of the interwar years the varied approaches often
grouped together under the banner of Institutionalism had become
firmly established as one of the most influential schools of
thought in American economics. This is a collection of writings on
the topic.
By the time of the interwar years the varied approaches often
grouped together under the banner of Institutionalism had become
firmly established as one of the most influential schools of
thought in American economics. This is a collection of writings on
the topic.
Institutional economics is recognised as a peculiarly American
development in economics - nothing quite like it emerged in Britain
or continental Europe. As such, a knowledge of the literature of
institutionalism is a necessary part of understanding the history
of American economics and American social thought more broadly. The
work of the authors featured in this collection served to create
and define the American institutionalist tradition in economics:
Thorstein Veblen, Richard Theodore Ely, John Rogers Commons, Robert
Franklin Hoxie, Wesley Clair Mitchell and Walton Hale Hamilton.
These figures were also central to institutionalism's numerous
debates on the unifying characteristics of the movement and its
principal contributions - making this collection of their most
important works a convenient vehicle to assess these issues. It is
also of increasing value given the fact that the main concerns of
institutionalists, such as the role of institutions and development
of an evolutionary approach, having been coming back into
prominence as important issues in economics.
Institutional economics is recognised as a peculiarly American
development in economics - nothing quite like it emerged in Britain
or continental Europe. As such, a knowledge of the literature of
institutionalism is a necessary part of understanding the history
of American economics and American social thought more broadly. The
work of the authors featured in this collection served to create
and define the American institutionalist tradition in economics:
Thorstein Veblen, Richard Theodore Ely, John Rogers Commons, Robert
Franklin Hoxie, Wesley Clair Mitchell and Walton Hale Hamilton.
These figures were also central to institutionalism's numerous
debates on the unifying characteristics of the movement and its
principal contributions - making this collection of their most
important works a convenient vehicle to assess these issues. It is
also of increasing value given the fact that the main concerns of
institutionalists, such as the role of institutions and development
of an evolutionary approach, having been coming back into
prominence as important issues in economics.
Institutional economics is recognised as a peculiarly American
development in economics - nothing quite like it emerged in Britain
or continental Europe. As such, a knowledge of the literature of
institutionalism is a necessary part of understanding the history
of American economics and American social thought more broadly. The
work of the authors featured in this collection served to create
and define the American institutionalist tradition in economics:
Thorstein Veblen, Richard Theodore Ely, John Rogers Commons, Robert
Franklin Hoxie, Wesley Clair Mitchell and Walton Hale Hamilton.
These figures were also central to institutionalism's numerous
debates on the unifying characteristics of the movement and its
principal contributions - making this collection of their most
important works a convenient vehicle to assess these issues. It is
also of increasing value given the fact that the main concerns of
institutionalists, such as the role of institutions and development
of an evolutionary approach, having been coming back into
prominence as important issues in economics.
Institutional economics is recognised as a peculiarly American
development in economics - nothing quite like it emerged in Britain
or continental Europe. As such, a knowledge of the literature of
institutionalism is a necessary part of understanding the history
of American economics and American social thought more broadly. The
work of the authors featured in this collection served to create
and define the American institutionalist tradition in economics:
Thorstein Veblen, Richard Theodore Ely, John Rogers Commons, Robert
Franklin Hoxie, Wesley Clair Mitchell and Walton Hale Hamilton.
These figures were also central to institutionalism's numerous
debates on the unifying characteristics of the movement and its
principal contributions - making this collection of their most
important works a convenient vehicle to assess these issues. It is
also of increasing value given the fact that the main concerns of
institutionalists, such as the role of institutions and development
of an evolutionary approach, having been coming back into
prominence as important issues in economics.
Institutional economics is recognised as a peculiarly American
development in economics - nothing quite like it emerged in Britain
or continental Europe. As such, a knowledge of the literature of
institutionalism is a necessary part of understanding the history
of American economics and American social thought more broadly. The
work of the authors featured in this collection served to create
and define the American institutionalist tradition in economics:
Thorstein Veblen, Richard Theodore Ely, John Rogers Commons, Robert
Franklin Hoxie, Wesley Clair Mitchell and Walton Hale Hamilton.
These figures were also central to institutionalism's numerous
debates on the unifying characteristics of the movement and its
principal contributions - making this collection of their most
important works a convenient vehicle to assess these issues. It is
also of increasing value given the fact that the main concerns of
institutionalists, such as the role of institutions and development
of an evolutionary approach, having been coming back into
prominence as important issues in 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.
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