Backwater Economics: A Life Story

James K. Galbraith

Journal of Economic Issues, 2020, vol. 54, issue 2, 287-293

Abstract: Economics is sometimes portrayed as a contest between saltwater and freshwater, between the coastal pseudo-Keynesians and the Great Lakes neo-Walrasians, between the flaws-and-friction model-builders and the free-market hard-liners. As evolutionists know, both habitats are fairly sterile. Evolution occurs in the backwaters, in the mudflats, bogs, lagoons, cypress swamps, and wetlands, in the shadows of perpetually endangered habitat. This essay sketches a personal journey through the backwaters. Intellectually they are my home, as they have been for every other recipient of the Veblen-Commons prize, with just one exception …

Date: 2020
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DOI: 10.1080/00213624.2020.1742059

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