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Institutionalists as Dissenters: Why Were Institutionalists So Dissatisfied with Economics During the Post-War Period

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  • Marco Cavalieri
  • Felipe Almeida

Abstract

In the 1940s and 1950s, institutionalist economists rapidly lost their influence over American economics. In parallel, a new mainstream emerged, and the institutionalists were extremely dissatisfied with the path taken by the economic science. We analyze the opinions and feelings about this context to shed light on the institutionalists’ understanding of the new mainstream economics. We construct a historical account of the institutionalists’ dissatisfaction with post-war economics based on archival material from the personal papers of Allan Gruchy, John Gambs, John Blair, and Clarence Ayres. In the period analyzed, the economists, who would later found the Association for Evolutionary Economics, acted as dissenters rather than institutionalists. In part, this explains the pluralistic path that the association has followed ever since its foundation.

Suggested Citation

  • Marco Cavalieri & Felipe Almeida, 2015. "Institutionalists as Dissenters: Why Were Institutionalists So Dissatisfied with Economics During the Post-War Period," Journal of Economic Issues, Taylor & Francis Journals, vol. 49(2), pages 475-482, April.
    • Handle: RePEc:mes:jeciss:v:49:y:2015:i:2:p:475-482
    DOI: 10.1080/00213624.2015.1042781
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    Cited by:

    1. Marco Antonio Ribas Cavalieri & José Felipe Araújo De Almeida, 2018. "A History Of The Foundation And The Early Years Of The Association For Evolutionary Economics," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 1, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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