The author examines the basis of Boulding’s claim that neoclassical economics is only a subclass of his more general approach, briefly explains his theory of the grants economy, analyzes the application of this theory to the financial system, puzzles over the relative lack of institutionalist interest in this area of Boulding’s work, and offers several criticisms of his approach. Includes a discussion of communities: those of ascription (membership by…origin) and those of achievement (to which one belongs…a community of achievement.
