Institutional Economics and the Theory of Social Value: Essays in Honor of Marc R. Tool: Essays in Honor of Marc R. Tool / Edition 1

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The starting point of the essays in Institutional Economics and the Theory of Social Value is Marc Tool's seminal work in the field: the essays thus honor Tool by extending his analysis and ideas.
The essays are loosely grouped under three headings: the theory of social value; the instrumental value principle; and extensions of Toolian themes. Many of the issues discussed are fundamentally important to institutional economics as well as to the social sciences in general. Among them are social value, valuation, instrumentalism, pragmatism, post-modernism, and critical rhetoric. The book balances theoretical essays with ones that deal with actual problems in economics and policy.

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Editorial Reviews

A collection of essays in honor of an editor of the Journal of Economic Issues, whose writings on the theory of social value and instrumental valuation have had a profound influence on institutional economics. Themes include the necessity of values in economic discourse; the central role of valuation in economic activity; social value theory in postmodern capitalism; and the requirement of democratic participation to achieve solutions to the economic problem. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9780792396062
  • Publisher: Springer Netherlands
  • Publication date: 7/31/1995
  • Edition description: 1995
  • Edition number: 1
  • Pages: 281
  • Product dimensions: 9.00 (w) x 6.00 (h) x 0.81 (d)

Table of Contents

Preface. 1. Marc R. Tool's contributions to institutional economics; P.D. Bush. 2. From natural value to social value; C.M.A. Clark. 3. Institutionalism and value theory: an identity crisis? G. Parker Foster. 4. The urgency of social value theory in postmodern capitalism; D. Brown. 5. Pragmatism as a normative theory of social value and economic ethics; L.E. Hill, R.M. Traub. 6. Efficiency versus equity: a false dichotomy? G. Atkinson. 7. The instrumental value principle and its role; W.J. Samuels. 8. The instrumental efficiency of social value theory; E.S. Miller. 9. Instrumental valuation in a democratic society; P.A. Klein. 10. Compulsive shift of cultural blind drift? literary theory, critical rhetoric, feminist theory and institutional economics; W.T. Waller. 11. Structural change and the compulsive shift to institutional analysis; C.J. Whalen. 12. Beyond technology to democracy: The Tool legacy in instrumentalism; W.M. Dugger. 13. Marc Tool's social value theory and the family; J.B. Stanfield, J.R. Stanfield. 14. Market failure and regulatory reform: energy and telecommunications networks as a case study; H.M. Trebing. 15. Thorstein Veblen: science, revolution and the persistence of atavistic continuities; R. Tilman. References. About the authors. Author index. Subject index.

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