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<p>Kenneth Boulding opened <i>A Reconstruction of Economics</i> by announcing “The basic idea of the <i>Reconstruction</i> was to re-state the central themes of economic theory both in regard to price theory and the theory of the firm and in regard also to macroeconomics, using the concept of the balance sheet and the position statement as the essential analytical tool from which the income concepts can be derived.” Boulding was a creative thinker who allowed his talents and curiosity to range widely throughout the humanities and social sciences. Having awarded its initial John Bates Medal to Paul Samuelson in 1947, the American Economic Association awarded its second Clark Medal to Kenneth Bolding in 1949. Such figures as Milton Friedman, James Tobin, and Kenneth Arrow followed at two-year intervals. I think it fair to say that Boulding did not achieve his desire to shift the focus of economics from current accounts to balance sheets. All the same, he created a body of work that took economic principles in several distinct scholarly directions. In this essay I review Boulding’s announced objective especially with respect to <i>A Reconstruction</i> though also as this book connects with some of the wide-ranging interests and aspirations he must have harbored when he began his life as an economist.</p>

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Kenneth Boulding’s A Reconstruction of Economics: another look

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  • 发表日期：

    2025年6月5日

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  • Richard E. Wagner

摘要

Kenneth Boulding opened A Reconstruction of Economics by announcing “The basic idea of the Reconstruction was to re-state the central themes of economic theory both in regard to price theory and the theory of the firm and in regard also to macroeconomics, using the concept of the balance sheet and the position statement as the essential analytical tool from which the income concepts can be derived.” Boulding was a creative thinker who allowed his talents and curiosity to range widely throughout the humanities and social sciences. Having awarded its initial John Bates Medal to Paul Samuelson in 1947, the American Economic Association awarded its second Clark Medal to Kenneth Bolding in 1949. Such figures as Milton Friedman, James Tobin, and Kenneth Arrow followed at two-year intervals. I think it fair to say that Boulding did not achieve his desire to shift the focus of economics from current accounts to balance sheets. All the same, he created a body of work that took economic principles in several distinct scholarly directions. In this essay I review Boulding’s announced objective especially with respect to A Reconstruction though also as this book connects with some of the wide-ranging interests and aspirations he must have harbored when he began his life as an economist.