Wendell Gordon presents the philosophy of economic institutionalism clearly and evocatively, in the tradition of the pragmatism of Peirce, James, and Dewey. In Gordon's view, the institutionalism of Veblen and Ayres, the only indigenous American school of economic thought, offered the most hope for understanding and solving the economic problems of the twentieth century.

The institutional approach—long known as the Texas School—looks at social order as ongoing process. The effort to explain how our attitudes have developed and how they are changed is central to this approach. Gordon argues that the dynamics of technical change, the institutionalism of behavior norms, human biology, and the resource endowment of the universe interact to create and change these attitudes.

Gordon thoroughly analyzes both orthodox and Marxist economic approaches with regard to institutional economics. He also examines such other radical approaches as underconsumption and the single tax. There is a discussion of the procedures and problems involved in testing for the validity of institutional theory and the analysis of economic problems in the institutional frame of reference. In addition, inflation, energy, multinationals, property rights, business organization, unemployment, and other issues are considered from an institutional perspective.

Law and economics is the leading intellectual movement in law today. This book examines the first great law and economics movement in the early part of the twentieth century through the work of one of its most original thinkers, Robert Hale. Beginning in the 1890s and continuing through the 1930s, progressive academics in law and economics mounted parallel assaults on free-market economic principles. They showed first that "private," unregulated economic relations were in fact determined by a state-imposed regime of property and contract rights. Second, they showed that the particular regime of rights that existed at that time was hard to square with any common-sense notions of social justice.

Today, Hale is best known among contemporary legal academics and philosophers for his groundbreaking writings on coercion and consent in market relations. The bulk of his writing, however, consisted of a critique of natural property rights. Taken together, these writings on coercion and property rights offer one of the most profound and elaborated critiques of libertarianism, far outshining the better-known efforts of Richard Ely and John R. Commons. In his writings on public utility regulation, Hale also made important contributions to a theory of just, market-based distribution.

This first, full-length study of Hale's work should be of interest to legal, economic, and intellectual historians.

What led to the breakdown of the Soviet Union? Steven Solnick argues, contrary to most current literature, that the Soviet system did not fall victim to stalemate at the top or to a revolution from below, but rather to opportunism from within. In three case studies--on the Communist Youth League, the system of job assignments for university graduates, and military conscription--Solnick makes use of rich archival sources and interviews to tell the story from a new perspective, and to employ and test Western theories of the firm in the Soviet environment. He finds that even before Gorbachev, mechanisms for controlling bureaucrats in Soviet organizations were weak, allowing these individuals great latitude in their actions. Once reforms began, they translated this latitude into open insubordination by seizing the very organizational assets they were supposed to be managing. Thus, the Soviet system, Solnick argues, suffered the organizational equivalent of a colossal bank run. When the servants of the state stopped obeying orders from above, the state's fate was sealed.

By incorporating economic theories of institutions into a political theory of Soviet breakdown and collapse, Stealing the State offers a powerful and dynamic account of the most important international political event of the later twentieth century.