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 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. The reasons for the movement's loss of appeal in the years around the end of World War II are also discussed, particularly in terms of the arrival of Keynesian economics, econometrics, and new definitions of 'science' as applied to economics"--

This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.

Harry Johnson (1923–1977) was such a striking figure in economics that Nobel Laureate James Tobin designated the third quarter of the twentieth century as 'the age of Johnson'. Johnson played a leading role in the development and extension of the Heckscher-Ohlin model of international trade. Within monetary economics he was also a seminal figure who identified and explained the links between the ideas of the major post-war innovators. His discussion of the issues that would benefit from further work set the profession's agenda for a generation. This book chronicles his intellectual development and his contributions to economics, economic education and the discussion of economic policy.

This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. In particular, it seeks to explain why it took so long for a theory of central banking to penetrate mainstream thought. The book investigates how major monetary theorists understood the roles of the invisible and visible hands in money, credit and banking; what they thought about rules and discretion and the role played by commodity-money in their conceptualizations; whether or not they distinguished between the two different roles carried out via the financial system - making payments efficiently within the exchange process and facilitating intermediation in the capital market; how they perceived the influence of the monetary system on macroeconomic aggregates such as the price level, output and accumulation of wealth; and finally, what they thought about monetary policy.

The pivotal and troubling role of progressive-era economics in the shaping of modern American liberalism In Illiberal Reformers, Thomas Leonard reexamines the economic progressives whose ideas and reform agenda underwrote the Progressive Era dismantling of laissez-faire and the creation of the regulatory welfare state, which, they believed, would humanize and rationalize industrial capitalism. But not for all. Academic social scientists such as Richard T. Ely, John R. Commons, and Edward A. Ross, together with their reform allies in social work, charity, journalism, and law, played a pivotal role in establishing minimum-wage and maximum-hours laws, workmen's compensation, antitrust regulation, and other hallmarks of the regulatory welfare state. But even as they offered uplift to some, economic progressives advocated exclusion for others, and did both in the name of progress. Leonard meticulously reconstructs the influence of Darwinism, racial science, and eugenics on scholars and activists of the late nineteenth and early twentieth centuries, revealing a reform community deeply ambivalent about America's poor. Illiberal Reformers shows that the intellectual champions of the regulatory welfare state proposed using it not to help those they portrayed as hereditary inferiors but to exclude them.

Updated to include a new chapter about the influence of social media and the Internet—the 20th anniversary edition of Bowling Alone remains a seminal work of social analysis, and its examination of what happened to our sense of community remains more relevant than ever in today’s fractured America. Twenty years, ago, Robert D. Putnam made a seemingly simple observation: once we bowled in leagues, usually after work; but no longer. This seemingly small phenomenon symbolized a significant social change that became the basis of the acclaimed bestseller, Bowling Alone, which The Washington Post called “a very important book” and Putnam, “the de Tocqueville of our generation.” Bowling Alone surveyed in detail Americans’ changing behavior over the decades, showing how we had become increasingly disconnected from family, friends, neighbors, and social structures, whether it’s with the PTA, church, clubs, political parties, or bowling leagues. In the revised edition of his classic work, Putnam shows how our shrinking access to the “social capital” that is the reward of communal activity and community sharing still poses a serious threat to our civic and personal health, and how these consequences have a new resonance for our divided country today. He includes critical new material on the pervasive influence of social media and the internet, which has introduced previously unthinkable opportunities for social connection—as well as unprecedented levels of alienation and isolation. At the time of its publication, Putnam’s then-groundbreaking work showed how social bonds are the most powerful predictor of life satisfaction, and how the loss of social capital is felt in critical ways, acting as a strong predictor of crime rates and other measures of neighborhood quality of life, and affecting our health in other ways. While the ways in which we connect, or become disconnected, have changed over the decades, his central argument remains as powerful and urgent as ever: mending our frayed social capital is key to preserving the very fabric of our society.

The third volume of The Cambridge History of America and the World covers the volatile period between 1900 and 1945 when the United States emerged as a world power and American engagements abroad flourished in new and consequential ways. Showcasing the most innovative approaches to both traditional topics and emerging themes, leading scholars chart the complex ways in which Americans projected their growing influence across the globe; how others interpreted and constrained those efforts; how Americans disagreed with each other, often fiercely, about foreign relations; and how race, religion, gender, and other factors shaped their worldviews. During the early twentieth century, accelerating forces of global interdependence presented Americans, like others, with a set of urgent challenges from managing borders, humanitarian crises, economic depression, and modern warfare to confronting the radical, new political movements of communism, fascism, and anticolonial nationalism. This volume will set the standard for new understandings of this pivotal moment in the history of America and the world.

Making the Modern American Fiscal State chronicles the rise of the US system of direct and progressive taxation.

Shifting faculty roles in a changing landscape Ernest L. Boyer's landmark book Scholarship Reconsidered: Priorities of the Professoriate challenged the publish-or-perish status quo that dominated the academic landscape for generations. His powerful and enduring argument for a new approach to faculty roles and rewards continues to play a significant part of the national conversation on scholarship in the academy. Though steeped in tradition, the role of faculty in the academic world has shifted significantly in recent decades. The rise of the non-tenure-track class of professors is well documented. If the historic rule of promotion and tenure is waning, what role can scholarship play in a fragmented, unbundled academy? Boyer offers a still much-needed approach. He calls for a broadened view of scholarship, audaciously refocusing its gaze from the tenure file and to a wider community. This expanded edition offers, in addition to the original text, a critical introduction that explores the impact of Boyer's views, a call to action for applying Boyer's message to the changing nature of faculty work, and a discussion guide to help readers start a new conversation about how Scholarship Reconsidered applies today.