The Struggle over the Soul of Economics: Institutionalist and Neoclassical Economists in America between the Wars

Yuval P. Yonay

Published by Princeton University Press 1998

The Struggle over the Soul of Economics

Institutionalist and Neoclassical Economists in America between the Wars

Yuval P. Yonay

https://doi.org/10.1515/9781400822522

Overview
Contents

About this book

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.

Author / Editor information

Yuval P. Yonay is Assistant Professor of Sociology at the University of Haifa. His work on this book was furthered by his residency at the Institute for Advanced Study in Princeton.

Topics

Frontmatter Publicly Available Download PDF	i
Contents Publicly Available Download PDF	vii
Acknowledgments Requires Authentication Unlicensed Licensed Download PDF	xi
One. Introduction: A Sociological Interpretation Of The Modern History Of Economics Requires Authentication Unlicensed Licensed Download PDF	1
Two. The Neoclassical Era (1870–1914) From A Different Angle Requires Authentication Unlicensed Licensed Download PDF	29
Three. Reconstructing The History Of Institutionalism Requires Authentication Unlicensed Licensed Download PDF	49
Four. The Struggle Over The Meaning Of Science Requires Authentication Unlicensed Licensed Download PDF	77
Five. Bringing People And Institutions Back In: The Struggle Over The Scope Of Economics Requires Authentication Unlicensed Licensed Download PDF	100
Six. The Free Market On Trial: The Struggle Over The Gap Between Reality And Theory Requires Authentication Unlicensed Licensed Download PDF	115
Seven. The Struggle Over Social Relevance And The Place Of Values Requires Authentication Unlicensed Licensed Download PDF	136
Eight. Evolution Or Revolution? The Struggle Over The History Of The Discipline Requires Authentication Unlicensed Licensed Download PDF	163
Nine. Epilogue: The Fall Of Institutionalism And The Rise Of Modern Economics Requires Authentication Unlicensed Licensed Download PDF	184
Ten. Conclusions: The Evolution Of Economic Analysis Requires Authentication Unlicensed Licensed Download PDF	196
Notes Requires Authentication Unlicensed Licensed Download PDF	223
Bibliography Requires Authentication Unlicensed Licensed Download PDF	251
Index Requires Authentication Unlicensed Licensed Download PDF	279

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