Baland,J.-M., Bourguignon,F., Platteau,J.-P. and T. Verdier,The Handbook of Economic Development and Institutions

Journal of Economics -     

Race,competition, and institutional change in J.R. Commons

This article examines the contribution of J.R. Commons to race relations, competition, and institutional change. One result of our study is that, in his analysis of institutional dynamics in the United States, Commons’ rejection of laissez-faire is derived from a racist analytical framework: the “superior races” should be protected from the “inferior races”. Another result is that Commons adopts a neo-Lamarckian framework which takes education as the basis for the assimilation of “inferior races”. This article then shows that policies often defended as progressives, as education policies, may be derived from racist foundations. The final remarks single out the ambiguous connection between race and culture revealed by Commons’ approach.     

Remembering Joseph M. Becker,S.J.

“Critique” of the Neoclassical paradigm in economics is a vital intellectual contribution in its own right. The prevailing wisdom and last word in economics, enforced by the socializing experiences of young would-be economists, is that if you can’t build a better theory immediately, without resources or access to debate and discussion, you have no right to criticize the existing paradigm, This requirement cuts off challenge and debate in economics, strongly deters the development of alternative theories, and leads to a weaker, less interesting economic science.