The Founding of Institutional Economics / Edition 1

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Overview

Institutional economics has been a major part of economic thought for the whole of the twentieth century, and today remains crucial to an understanding of the development of heterodox economics. The two principal publications that founded the school were Veblen's The Theory of the Leisure Class and Commons's A Sociological View of Sovereignty, both published in 1899.
As a tribute to these two seminal works, Warren Samuels has assembled an exceptionally prestigious international group of scholars to produce this landmark volume celebrating the centenary. The chapters assess the work of Veblen and Commons and their influence on the school of institutional economics from a variety of theoretical perspectives. The contributions on Veblen appraise his anthropological analysis of consumption habits of American households from sociological, linguistic and feminist points of view. Conversely, the essays on Commons's work focus on the concepts of property, power and the relationship between legality and economics.
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Product Details

Table of Contents

Contributors
Introduction
Pt. I Veblen and Commons 1
1 Veblen, Commons, and the Industrial Commission 3
2 Veblen and Commons and the concept of community 14
Pt. II Commons, A Sociological View of Sovereignty 31
3 An evolutionary theory of the development of property and the state 33
4 Sovereignty and withholding in John Commons's political economy 47
5 The identity and significance of Commons's A Sociological View of Sovereignty 76
6 Commons, sovereignty, and the legal basis of the economic system 97
7 John R. Commons's "Political Economy and Law": Harbinger of A Sociological View of Sovereignty and Legal Foundations of Capitalism 115
Pt. III Veblen, The Theory of the Leisure Class 123
8 Veblen and the vanishing of the "leisure class" 125
9 The Theory of the Leisure Class and the theory of demand 139
10 Veblen's contribution to the instrumental theory of normative value 157
11 Veblen's Theory of the Leisure Class and the genesis of evolutionary economics 170
12 Veblen's feminism in historical perspective 201
13 Veblen and the anthropological perspective 234
14 The rhetoricality of Thorstein Veblen's economic theorizing: A critical reading of The Theory of the Leisure Class 250
15 Georg Simmel and Thorstein Veblen on fashion fin de siecle 282
16 A neoinstitutional theory of social change in Veblen's The Theory of the Leisure Class 302
Index 320
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