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Taussig on the Psychology of Economic Policy

In: Essays in the History of Mainstream Political Economy

Author

Listed:
  • Warren J. Samuels

    (Michigan State University)

Abstract

Two generations ago, Frank W. Taussig was a main pillar of the profession. Urbane, conservative, open-minded, a great teacher, Taussig was, in the words of Schumpeter, ‘an eminent theorist’ to whom nonetheless ‘economics always remained political economy’ and who was, appropriately, ‘the American Marshall’.1 Although then-contemporary institutionalists could not have agreed2 — he was, after all, with T. N. Carver, the leader of orthodoxy — Schumpeter also felt that Taussig was more of a leader than an opponent of institutionalism: this because of Taussig’s interest and productivity in what Schumpeter called ‘economic sociology’, which included the study of institutions and the study of individual and group behaviour within the institutional setting.3

Suggested Citation

  • Warren J. Samuels, 1992. "Taussig on the Psychology of Economic Policy," Palgrave Macmillan Books, in: Essays in the History of Mainstream Political Economy, chapter 13, pages 245-257, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12266-0_14
    DOI: 10.1007/978-1-349-12266-0_14
    as

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