J. Fagg Foster (1907-1985) was one of the most significant creators of institutionalist economic theory in the twentieth century. He wrote and taught in the American intellectual tradition of Thorstein Weblen, John R. Commons, John Dewey and Clarence E. Ayres. This tradition shares purpose and philosophy with the European contributors, Gunnar Myrdal and K. William Kapp. Because little of Foster's scholarly work was formally published, professional knowledge of his extraordinary contribution is quite limited beyond the circle of his students and colleagues. Value Theory and Economic Progress attempts to correct that deficiency by providing an extended characterization of this missing and crucial component of the development of American heterodox economic thought. Its purpose is to demonstrate the timely relevance and significance of this model of inquiry in political economy. In addition, this volume explains that contemporary problem solving means changing `what is' into `what ought to be' through institutional adjustments; such a demonstration is at the heart of Foster's contribution to institutional thought.

This standard reference text is a guide to economists both past and present who have made a substantial contribution to the subject. It provides biographical, bibliographical and critical information on over 1000 living economists and approximately 500 deceased economists.

Holding that mainstream economics serves to obscure actual understanding of the economy, retired economist Dowd presents seven essays that attempt to explain for a lay audience the contributions of some of strands of critical economics. Essays discuss Karl Marx, Thorstein Veblen, Gramsci, critical institutionalism, post Keynesian economics, Paul Sweezy, and Amartya Sen. Distributed by Stylus. Annotation copyrighted by Book News, Inc., Portland, OR

Scholars attempting to place Veblen in a particular intellectual tradition will only succeed in reaping frustration and confusion until it is recognized that he was primarily ^Isui generis^R and eclectic. This is the recurring theme that is made explicit in the introduction, conclusion, and some of the chapters of this work. Veblen was a thinker of such depth and power that he was able to create his own intellectual paradigm. The result of his endeavors is that more than a few intellectuals including his followers, the institutional economists, have spent their careers trying to understand the paradigm and to develop it in several directions for their own purposes.