2012 Summer Institute

The 2012 Duke Summer Institute on the History of Economic Thought took place on the campus of Duke University from June 10 – 22. We assembled an award-winning cast of distinguished scholars who lectured and led discussions on their areas of expertise.

Marcel Boumans (University of Amsterdam) on the history of econometrics

Bruce Caldwell (Duke) on Hayek and the Austrian Tradition

Wade Hands (University of Puget Sound) on the history of methodology and of demand theory

Kevin Hoover (Duke) on the history of macroeconomics

Robert Leonard (University of Quebec at Montreal) on von Neumann, Morgenstern and the development of game theory

Malcolm Rutherford (University of Victoria) on the American Institutionalists

Craufurd Goodwin (Duke University)

E. Roy Weintraub (Duke University)

The detailed program for the two-week Summer Institute is available under "Program." We look forward to the 2013 Summer Institute, which will take place June 2–22 at Duke University.

Duke Summer Institute 2012
The Emergence of Modern Economics
June 10 – 22, 2012
Below you will find the schedule for the Duke Summer Institute. There are 2 sessions a day, Monday through Thursday, and one morning session on Friday. Sessions are scheduled for two hours; there will be a short break (5-10 minutes) half way through each session.

The readings for each session may be found at the "Detailed Program PDF" link directly below. There are about 50 pages of required readings for each session. The list of supplementary readings are not required but designed to allow you to explore the topics that interest you in more depth.

Sunday, June 10 
2 – 6 p.m. Participants arrive and register at  Dormitory on West Campus

6:30   Welcome Barbecue, Center for the History of Political Economy, Social Science Suite 07

Monday, June 11

9:30 – 11:30 Session 1 – Introductions and Time Line – Bruce Caldwell and Marcel Boumans
2:00 – 4:00 Session 2 – The Austrian School and Its Opponents – Bruce Caldwell 

7:05   Durham Bulls versus Toledo Mud Hens, Durham Bulls Stadium – complimentary tickets
Tuesday, June 12

9:30 – 11:30 Session 3 – American Institutionalism in the Interwar Period: An Overview – Malcolm Rutherford
2:00 – 4:00 Session 4 – Early Metrics – Marcel Boumans


Wednesday, June 13
9:30 – 11:30 Session 5 –  American Institutionalism: Walton Hamilton and Creative Problem Solving – Malcolm Rutherford
2:00 – 4:00 Session 6 – Robbins, Friedman, and Economic Methodology – Wade Hands 

Thursday, June 14

9:30 – 11:30 Session 7 – Interwar Metrics – Marcel Boumans

2:00 – 4:00 Session 8 –  Interwar Demand and Consumer Choice Theory:  The Ordinal Revolution and Revealed Preference – Wade Hands


Friday, June 15

9:30 – 11:30 Session 9 – Philosophy of Science and Economics: Positivism, Popper, and After  – Wade Hands


Monday, June 18

9:30 – 11:30 Session 10 – The Interwar Period and the Austrians – Bruce Caldwell

Download Hayek Handout (pdf - 90.69 KB)

2:00 – 4:00 Session 11 – Game Theory 1: Oskar Morgenstern and Interwar Vienna– Rob Leonard

Tuesday, June 19
9:30 – 11:30 Session 12 – Before Modern Macroeconomics – Kevin Hoover

2:00 – 4:00 Session 13 –  Roy Weintraub and Craufurd Goodwin talk about doing HET research

4:30   Presentation on Duke’s Archival Holdings, the Economists’ Papers Project, Rare Book Room

Wednesday, June 20
9:30 – 11:30 Session 14 – Game Theory 2:  From Chess to the Social Order with John von Neumann – Rob Leonard
2:00 – 4:00 Session 15 –  Postwar Metrics – Marcel Boumans

Thursday, June 21
9:30 – 11:30 Session 16 – The Great Depression: Keynes and his Critics – Kevin Hoover 

2:00 – 4:00 Session 17 - Hayek’s Postwar Contributions – Bruce Caldwell
7:00 Closing Dinner – Tyler’s Tap Room, Durham
Friday, June 22
9:30 – 11:30 Session 18 – The Econometric Roots of Modern Macroeconomics – Kevin Hoover

Bruce Caldwell Duke University
Marcel Boumans University of Amsterdam
Bruce Caldwell Duke University
Kevin Hoover Duke University
D. Wade Hands University of Puget Sound
Robert Leonard University of Quebec at Montreal
Malcolm Rutherford University of Victoria
Craufurd Goodwin Duke University
E. Roy Weintraub Duke University
Paul Dudenhefer Duke University
Angela Zemonek Duke University
Appendino, Maximiliano Yale University
Bailey, James Temple University
Bedard, Mathieu Aix-Marseille Université in France
Bilo, Simon George Mason University
Brent, Jason University of North Carolina
Brown, Samuel Brown University
Bryan, Kevin Northwestern
Dickens, Andrew York University
Forbes, Sherry University of Virginia
Gastelle, Jesse George Mason University
Gill, Alexander  North Carolina State University
Halliday, Simon University of Siena
Herfeld, Catherine Witten/Herdecke University
Hileman,Garrick London School of Economics
Hirschman, Dan University of Michigan
Klepacz, Matthew Boston University
Kucheryavyy, Konstantin Pennsylvania State University
Lesica, Josip McMaster University
Morrison, James Middlebury College
Panhans, Matt Duke University
Pattison, Nathaniel University of Virginia
Pram, Kym Northwestern University
Pritchett, Irina North Carolina State University
Reddix II, Ken University of North Carolina
Rotta, Tomas University of Massachusetts
Scheall, Scott Arizona State University
Seliski ,John University of Minnesota
Silva, Danilo F. R. Sao Paulo University
Stangebye, Zach University of Pennsylvania
te Velde, Vera L. University of California, Berkeley
Teltser, Keith  Michigan State University
Watkins, John Michigan State University


Faculty Bios 


Bruce Caldwell is a Research Professor of Economics and the Director of the Center for the History of Political Economy at Duke University. He is the author of Beyond Positivism: Economic Methodology in the 20th Century (1982) and of Hayek's Challenge: An Intellectual Biography of F. A. Hayek (2004). Since 2002 he has served as the General Editor of The Collected Works of F. A. Hayek, a multi-volume collection of Hayek's writings. A past president of the History of Economics Society, Caldwell has held research fellowships at New York University, Cambridge University, and the London School of Economics, and is a Life Member of Clare Hall, Cambridge. He is President of the Southern Economic Association.



Marcel Boumans is associate professor of history and methodology of economics at the University of Amsterdam and fellow of the Tinbergen Institute. He is coeditor of the Journal of the History of Economic Thought. His research is marked by three Ms: modeling, measurement and mathematics. His main research focus is on understanding empirical research practices from (combined) historical and philosophical perspectives. On these topics he has published a monograph, How Economists Model the World into Numbers (Routledge, 2005), edited the volume Measurement in Economics: A Handbook (Elsevier, 2007) and co-edited HOPE annual supplement Histories on Econometrics (Duke University Press, 2011).



Craufurd Goodwin is James B. Duke professor of economics emeritus at Duke University.  He has been a teacher and adminstrator at Duke since 1962, and has taught both graduate and undergraduate students on courses covering the history of economic thought and policy, macroeconomics, and microeconomics.  In past years, he has also been a visiting professor at Cambridge University and the Australian National University.  He was named a Smuts Fellow at Cambridge University and a Guggenhein Fellow.  He specializes in the history of economic thought and policy.  He has co-authored or edited over one hundred works over the last four decades.  He recently published a chapter on "Art and Culture in the History of Economics," to the Handbook of the Economics of Art and culture and a chapter on Keynes and Bloomsbury to the Cambridge Companion to Keynes.  His latest published works include "The History of Economic Thought": and "Economics and the Study of War" in the Second edition of the New Palgrave Dictionary of Economics, and "Ecologist Meets Economics: Aldo Leopold" in the Journal of the History of Economic Thought.  He has just completed a book manuscript on the economic writings of the American journalist Walter Lippmann.

Professor Goodwin has served as vice provost for research and dean of the graduate school program officer in charge of European and International Affairs at the Ford Foundation, and secretary of teh university.  He is past president and distinguished fellow of the History of Economics Society.



D. Wade Hands is Distinguished Professor of Economics at the University of Puget Sound in Washington state. A past president of the History of Economic Society, he has written on a wide range of topics in the history of economic thought and economic methodology. He is co-editor of The Journal of Economic Methodology and the author of Reflection Without Rules: Economic Methodology and Contemporary Science Theory, Cambridge University Press, 2001. His Agreement on Demand: Consumer Choice Theory in the 20th Century, edited with Philip Mirowski, was published in 2006 by Duke University Press, and The Elgar Companion to Recent Economic Methodology, edited with John B. Davis, was published in 2011.



Kevin D. Hoover is Professor of Economics and Philosophy at Duke University. Educated at the College of William and Mary, the University of St. Andrews, and Balliol College, Oxford, he has previously held positions at the Federal Reserve Bank of San Francisco, University of Oxford (Balliol College, Nuffield College, and Lady Margaret Hall), and the University of California, Davis. He is past president of the History of Economics Society, past chairman of the International Network for Economic Method, past editor of the Journal of Economic Methodology, and current editor of the journal History of Political Economy. He is the author of more than one hundred books and articles in a variety of areas, including the history of economics, macroeconomics and monetary economics, and the methodology and philosophy of economics and econometrics.



Robert Leonard is Professor of Economics at the Université du Québec à Montréal (UQAM). Educated at Trinity College Dublin and Duke University, he writes about the history of economics in the 20th century in cultural and scientific context. Noted for his work on the early history of game theory, he has published in the Economic Journal, the Journal of Economic Literature, Isis, and History of Political Economy, amongst other journals. His Von Neumann, Morgenstern and the Creation of Game Theory: from Chess to Social Science, 1900 – 1960 (Cambridge U.P., 2010) was awarded the Spengler Best Book Prize of the History of Economics Society in 2011. Leonard is currently working on two diverse areas in intellectual history: the relationship between Modernism as a cultural movement and economics and the social sciences; and the life and work of economist, environmentalist and mystic, E. F. Schumacher.



Malcolm Rutherford is Professor of Economics at the University of Victoria, British Columbia, Canada, and the leading authority on the history of American institutional economics. He has published widely on this topic in History of Political Economy, Journal of the History of Economic Thought, Journal of Economic Issues, European Journal of the History of Economic Thought, Journal of Economic Perspectives, and Labor History. He is the author of Institutions in Economics: The Old and the new Institutionalism(Cambridge University Press, 1994), and the Institutionalist Movement in American Economics, 1918-1947: Science and Social Control (Cambridge University Press, 2011). Professor Rutherford has served as President of the History of Economics Society and the Association for Evolutionary Economics.



Roy Weintraub was trained as a mathematician and began his career as a mathematical economist. In the 1980s he reconstructed his research and teaching activities to focus upon the history of the interconnection between mathematics and economics in the twentieth century. That work, in the history of economics, helped shape the understanding of economists and historians: his General Equilibrium Theory (1985), Stabilizing Dynamics (1991), Toward a History of Game Theory (ed.) (1992) and How Economics Became a Mathematical Science (2002) charted the transformation of economics from a historical to a mathematical discipline. In recent years his work has turned more self-consciously historiographic, resulting in edited volumes on The Future of the History of Economics (2002) and Economists Lives: Biography and Autobiography in the History of Economics (2007).  In 2010 Weintraub was named Distinguished Fellow of the History of Economics Society.