Chicago neoliberalism versus Cowles planning: Perspectives on patents and public goods in Cold War Economic Thought

Robert Van Horn, Matthias Klaes

    Research output: Contribution to journalArticlepeer-review

    11 Citations (Scopus)

    Abstract

    In post-Sputnik America, when many policymakers and social scientists feared the Soviet Union had a technological advantage over the United States, assessing the relative importance of patents for inventive activity and examining whether scientific research constituted a public good were paramount concerns. The neoliberals of the University of Chicago and the planners of the Cowles Commission both spoke to these issues. This paper sheds light on their views on patents and public goods in the late 1950s and early 1960s by examining representatives of Cowles and Chicago, Kenneth Arrow and Ronald Coase, respectively. Furthermore, it evaluates whether their views on patents and public goods clashed with the interests of RAND, at which both Arrow and Coase worked at some point during this time period. The paper argues that the Chicago-neoliberal position of Coase undermined the interests of RAND, while the Cowles-planning conclusions of Arrow furthered those interests. (C) 2011 Wiley Periodicals, Inc.

    Original languageEnglish
    Pages (from-to)302-321
    Number of pages20
    JournalJournal of the History of the Behavioral Sciences
    Volume47
    Issue number3
    DOIs
    Publication statusPublished - 2011

    Keywords

    • LAW
    • POLITICS
    • POLICY
    • STANDARD OIL
    • SPECTRUM

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