chapter  8
15 Pages

Foundations and economic knowledge


This chapter is concerned with the relationship between private foundations which fund economic research and the academic discipline of economics in the United States. Foundations have played a role in shaping this discipline, not only through the money they provide but also through the prestige they bestow. “When intellectual elites in our society are anointed, it is not with a knighthood or bishopric but with a grant from MacArthur, Guggenheim, or Nobel” (Goodwin 1989: 158).1