The struggle over the soul of economics : institutionalist and neoclassical economists in America between the wars / Yuval P. Yonay.

Format:

Book

Author/Creator:

Yonay, Yuval P., 1958-

Language:

English

Subjects (All):

Institutional economics--History--20th century.

Institutional economics.

Neoclassical school of economics--History--20th century.

Neoclassical school of economics.

Economics--United States--History--20th century.

Economics.

Physical Description:

1 online resource (305 p.)

Edition:

Course Book

Place of Publication:

Princeton, N.J. : Princeton University Press, c1998.

Language Note:

English

Summary:

This book provides a surprising answer to two puzzling questions that relate to the very "soul" of the professional study of economics in the late twentieth century. How did the discipline of economics come to be dominated by an approach that is heavily dependent on mathematically derived models? And what happened to other approaches to the discipline that were considered to be scientifically viable less than fifty years ago? Between the two world wars there were two well-accepted schools of thought in economics: the "neoclassical," which emerged in the last third of the nineteenth century, and the "institutionalist," which started with the works of Veblen and Commons at the end of the same century. Although the contributions of the institutionalists are nearly forgotten now, Yuval Yonay shows that their legacy lingers in the study and practice of economics today. By reconsidering their impact and by analyzing the conflicts that arose between neoclassicists and institutionalists, Yonay brings to life a hidden chapter in the history of economics.The author is a sociologist of science who brings a unique perspective to economic history. By utilizing the actor-network approach of Bruno Latour and Michel Callon, he arrives at a deeper understanding of the nature of the changes that took place in the practice of economics. His analysis also illuminates a broader set of issues concerning the nature of scientific practice and the forces behind changes in scientific knowledge.

Contents:

Front matter

Contents

Acknowledgments

One. Introduction: A Sociological Interpretation Of The Modern History Of Economics

Two. The Neoclassical Era (1870-1914) From A Different Angle

Three. Reconstructing The History Of Institutionalism

Four. The Struggle Over The Meaning Of Science

Five. Bringing People And Institutions Back In: The Struggle Over The Scope Of Economics

Six. The Free Market On Trial: The Struggle Over The Gap Between Reality And Theory

Seven. The Struggle Over Social Relevance And The Place Of Values

Eight. Evolution Or Revolution? The Struggle Over The History Of The Discipline

Nine. Epilogue: The Fall Of Institutionalism And The Rise Of Modern Economics

Ten. Conclusions: The Evolution Of Economic Analysis

Notes

Bibliography

Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. [251]-278) and index.

ISBN:

9786612753398

9781400808830

1400808839

9781282753396

1282753398

9781400822522

1400822521

9781400813933

140081393X

OCLC:

700688724