Value Theory and Economic Progress: The Institutional Economics of J. Fagg Foster

  • Marc R. Tool

Table of contents

  1. Front Matter
    Pages i-xii
  2. Marc R. Tool
    Pages 1-6
  3. Marc R. Tool
    Pages 7-33
  4. Marc R. Tool
    Pages 35-61
  5. Marc R. Tool
    Pages 63-85
  6. Marc R. Tool
    Pages 87-104
  7. Marc R. Tool
    Pages 105-128
  8. Marc R. Tool
    Pages 129-159
  9. Marc R. Tool
    Pages 161-183
  10. Marc R. Tool
    Pages 185-213
  11. Back Matter
    Pages 215-231

About this book


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.


Keynes economic theory economics institutional economics

Authors and affiliations

  • Marc R. Tool
    • 1
  1. 1.California State UniversitySacramentoUSA

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media B.V. 2000
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-0-7923-7830-3
  • Online ISBN 978-94-011-3998-4
  • Buy this book on publisher's site
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