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What does “development” mean for Indigenous peoples? Indigenous Economics lays out an alternative path showing that conscious attention to relationships among humans and the natural world creates flourishing social-ecological economies.

Economist Ronald L. Trosper draws on examples from North and South America, Aotearoa/New Zealand, and Australia to argue that Indigenous worldviews centering care and good relationships provide critical and sustainable economic models in a world under increasing pressure from biodiversity loss and climate change. He explains the structure of relational Indigenous economic theory, providing principles based on his own and others’ work with tribal nations and Indigenous communities. Trosper explains how sustainability is created at every level when relational Indigenous economic theory is applied—micro, meso, and macro.

Good relationships support personal and community autonomy, replacing the individualism/collectivism dichotomy with relational leadership and entrepreneurship. Basing economies on relationships requires changing governance from the top-down approaches of nation-states and international corporations; instead, each community creates its own territorial relationships, creating plurinational relational states. This book offers an important alternative to classic economic theory. In Indigenous Economics, support for Indigenous communities’ development and Indigenous peoples’ well-being go hand-in-hand.

Publication of this book is made possible in part by the Alfred P. Sloan Foundation Program in Public Understanding of Science.

This collection of essays presents a stimulating and challenging examination of the nature of institutional adjustment, its history and its future, its problems and its purposes. The focus is on the pioneer work done by the late Clarence Ayres, of the University of Texas, in the study of the processes of change and growth and the nature of modern industrialized economies. The opening essay, a provocative discussion of “The Theory of Institutional Adjustment,” is Ayres’s contribution.

The succeeding essays examine several aspects of institutional adjustment:

• Kenneth H. Parsons discusses “The Institutional Basis of a Progressive Approach to Economic Development.”
• Wendell Gordon considers “Orthodox Economics and Institutionalized Behavior.”
• Gunnar Myrdal brings the breadth of his knowledge of many different economies and the institutional contexts within which they operate to a study of the “Adjustment of Economic Institutions in Contemporary America.”
• Forest Hill provides a historical survey of the process of growth and change in his essay “The Government and Institutional Adjustment: The American Experience.”
• Wolfgang Friedmann discusses some legal aspects of the subject in “Creative Legal Interpretation and the Process of Institutional Adjustment.”
• Rounding out this collection of essays, Morris A. Copeland and Gardiner C. Means offer proposals for guiding adjustment and change in specific areas: “Implementing the Objective of Full Employment in Our Free Enterprise System” and “Monetary Institutions to Serve the Modern Economy.”

These essays were originally read at a conference sponsored by the Department of Economics of the University of Texas at Austin in April and May of 1965.

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.

‘With clarity and sophistication, Antonios Broumas presents a bold new theory of intellectual commons and powerful arguments for a new body of supportive law. This book not only reveals the misleading logic of intellectual property law in our time; it reveals the rich possibilities for constructive change that legally protected commoning can bring. Highly recommended!’ — David Bollier, Director, Reinventing the Commons Program, Schumacher Center for a New Economics.

‘Liberating the Intellectual Commons from the fetters of capital accumulation and appropriation, would give us a renaissance of creative energies and empowered communities: exactly what the world needs to move away from the social and ecological devastations of our times. This book is a thoughtful and compelling argument for making this possible through the works of the law and the redesign of public domain as a common space.’ — Massimo De Angelis, Professor of Political Economy and Social Change, Co-director of the Centre for Social Justice and Change, University of East London.

‘In this pioneering book, Antonios Broumas argues that philosophically, morally, politically and economically we are in urgent need of a new legal regime that recognizes the intellectual commons, peer production and sharing as the primary practices of intellectual production, distribution and consumption. I cannot imagine a more urgent task today. A legally protected intellectual commons will lead to greater scientific and cultural innovation and creativity and will lead to an urgently needed second Enlightenment. This book should be read by lawyers, critical theorists, economists and the many professionals of science, culture and the academy.’ — Costas Douzinas, Professor of Law, Birkbeck, University of London.

‘Antonios Broumas’ book is an excellent critical analysis of the cultural commons and a must-read for everyone interested in understanding what the commons, the cultural commons, and the digital commons are all about. This work brilliantly outlines the foundations of an empirically grounded critical theory of the commons and the cultural commons in the context of the interactions of law and society.’ — Christian Fuchs, Professor of Media and Communication Studies, author of Communication and Capitalism: A Critical Theory (2020).

‘Broumas takes us on a spellbinding tour of how and why the law could and should change to accommodate the creative multitude, which engages into an emerging mode of production. He tells a vibrant story that makes us shout: “Lawmakers of the world, unite!”’ — Vasilis Kostakis, Professor of P2P Governance, Tallinn University of Technology, Faculty Associate at Harvard Law School.

At the cutting edge of contemporary wealth creation people form self-governed communities of collaborative innovation in conditions of relative equipotency and produce resources with free access to all. The emergent intellectual commons have the potential to commonify intellectual production and distribution, unleash human creativity through collaboration and democratise innovation with wider positive effects for our societies. Contemporary intellectual property laws fail to address this potential. We are, therefore, in pressing need of an institutional alternative beyond the inherent limitations of intellectual property law. This book offers an overall analysis of the moral significance of the intellectual commons and outlines appropriate modes for their regulation. Its principal thesis is that our legal systems are in need of an independent body of law for the protection and promotion of the intellectual commons, in parallel to intellectual property law. In this context, the author of the book proposes the reconstruction of the doctrine of the public domain and the exceptions and limitations of exclusive intellectual property rights into an intellectual commons law, which will underpin a vibrant non-commercial zone of creativity and innovation in intellectual production, distribution and consumption alongside commodity markets enabled by intellectual property law.