caa a22 4500 388040483 CHVBK 20180307125020.0 cr unu---uuuuu 161130e199812 xx s 000 0 eng 10.1017/S1053837200002467 doi S1053837200002467 pii (NATIONALLICENCE)cambridge-10.1017/S1053837200002467 Dimand Robert W. Fisher and Veblen: Two Paths for American Economics [Elektronische Daten] [Robert W. Dimand] In the early years of the twentieth century, two outspoken and brilliant American economists, Thorstein Veblen and Irving Fisher, offered sharply-contrasting visions of how the discipline of economics should be transformed. Each taught at a leading university and had added prominence as a journal editor, but pursued economic inquiry in ways alien to senior colleagues at his university and in the profession at large. Despite the gulf separating their approaches to economics, they had been doctoral students of the same mentor, William Graham Sumner of Yale, and had each been deeply influenced by Sumner. This paper uses the exchange on neoclassical capital theory between Veblen and Fisher in the Political Science Quarterly in 1908 and 1909 to illuminate their approaches to economics and to question why the American economics profession came to follow Fisher's path-even though Veblen, unlike Fisher, attracted devoted disciples and was considered in American social thought (excepting academic economists) as the standard-bearer of "the New Economics.” Despite Veblen's antipathy to those aspects of Fisher's work that became dominant in mainstream economics, there was a close affinity between Veblen's Theory of Business Enterprise (1904) and Fisher's debt-deflation theory of depressions, which remained (until very recently) outside the mainstream and has been taken up by such heterodox economists as Hyman Minsky. Copyright © Cambridge University Press 1998 Journal of the History of Economic Thought Cambridge University Press 20/4(1998-12), 449-465 1053-8372 20:4<449 1998 20 HET https://doi.org/10.1017/S1053837200002467 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S1053837200002467 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Dimand Robert W. NATIONALLICENCE 773 0- Journal of the History of Economic Thought Cambridge University Press 20/4(1998-12), 449-465 1053-8372 20:4<449 1998 20 HET CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge