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This essay charts an intellectual journey. Geoffrey M. Hodgson became an institutional economist in the 1980s. He explains how he discovered institutional economics and what strains of institutional thought were attractive for him. Another issue raised in this essay is how institutional researchers organize and move forward. Hodgson argues for an interdisciplinary approach, but this is not without its problems.

The authors study public debt policy based on the reports for 2011–2022 and examine the factors affecting the public internal and external debt growth rate using several methods. The research results demonstrate that internal and external debts have changed significantly under the influence of socioeconomic factors. The authors provide scientific recommendations and conclude that public debt is one of the vital instruments of the macroeconomic regulation system through the budget-tax policy. The main features of the debt financing system of the budget deficit are considered. It embodies the redistribution system of national income expressed through its activity as a “state debtor agent” to attract funds for financial support for the requirements of specific segments. Debt financing of the country's primary budget deficit affects the consumption, savings, and investment environment and usually depends on various aspects of the economy. During an economic downturn, the government revives aggregate demand by raising gathered funds (via the sale of securities) and funding governmental operations, which has a stimulative impact. To stabilize the national economy in terms of the country's foreign debts, global funds will have the opportunity to “infect” financial resources in exchange for funds. In a period of stable economic development, the activation of the state as a borrower in the financial market will have the character of crowding out private investments. This ultimately shows that public debt has the characteristic of limiting the scientific views of economists regarding state debts.

This chapter discusses the growing use of social media during election campaigns in Ghana. It examines how social media platforms like Facebook and Twitter became preferred tools for voter engagement, mobilisation and campaign for political parties and their presidential and parliamentary candidates in the 2020 elections in Ghana. It establishes that social media are gradually surpassing traditional/legacy media as the preferred media choice for political mobilisation, civic engagement and political communication in Ghana. The chapter reviews the European Union Election Observation Mission (EOM) report through social media affordance lens. This chapter attempts to answer two critical questions: To what extent did political parties and presidential candidates in Ghana use social media in electioneering campaigns during the 2020 elections and, which social media platforms were highly preferred by political parties and presidential candidates in engaging the electorate? The EOM's data indicators show the prominence of Facebook and Twitter as significant in political party campaigns during the period under study. Preliminary analysis also points out that the ruling New Patriotic Party (NPP) and their presidential candidate, Nana Akufo Addo including the opposition National Democratic Congress and their leader, John Dramani Mahama, spent thousands of dollars on Facebook advertisements for extensive voter mobilisation.

The rise of the regulatory state during the Gilded Age was closely associated with the development of institutionalist ideas in American academia. In their analysis of the emergent regulatory environment, institutionalists like John Commons operated with a fundamentally marginalist theory of value and distribution. This engagement is a central explanation for the ultimate ascendancy of neoclassical economics, and the limitations of the regulatory environment that emerged in the Progressive Era. The eventual rise of the Chicago School and its deregulatory ambitions did constitute a rupture, but one achieved without rejecting preceding conceptions of competition and value. The substantial compatibility of the view of markets underlying both the regulatory and deregulatory periods is stressed, casting doubt about the transformative potential of the resurgent regulatory impulse in the New Gilded Age.

In the years following the publication of A Theory of Consumption (1923), Hazel Kyrk’s book became the flagship of the field that would later be known as the economics of consumption. It stimulated theoretical and empirical work on consumption. Some of the existing literature on Kyrk (e.g., Kiss & Beller, 2000; Le Tollec, 2020; Tadajewski, 2013) depicted her theory as the starting point of the economics of consumption. Nevertheless, how and why it emerged the way it did remain largely unexplored. This chapter examines Kyrk’s intellectual background, which, we argue, can be traced back to two main movements in the United States: the home economics and the institutionalist. Both movements conveyed specific endeavors as responses to the US material and social transformations that occurred at the turn of the 20th century, notably the perceived changing role of consumption and that of women in US society. On the one hand, Kyrk pursued first-generation home economists’ efforts to make sense of and put into action the shifting of women’s role from domestic producer to consumer. On the other hand, she reinterpreted Veblen’s (1899) account of consumption in order to reveal its operational value for a normative agenda focused on “wise” and “rational” consumption. This chapter studies how Kyrk carried on first-generation home economists’ progressive agenda and how she adapted Veblen’s fin-de-siècle critical account of consumption to the context of the household goods developed in 1900–1920. Our account of Kyrk’s intellectual roots offers a novel narrative to better understand the role of gender and epistemological questions in her theory.

Can we broaden the boundaries of the history of economic thought to include positionalities articulated by grassroots movements? Following Keynes’s famous remark from General Theory that ‘practical men […] are usually the slaves of some defunct economist,’ we might be wont to dismiss such a push from below. While it is sometimes true that grassroots movements channel preexisting economic thought, I wish to argue that grassroots economic thought can also precede developments subsequently elaborated by economists. This paper considers such a case: by women at the intersection of the women’s liberation movement and the claimants’ unions movement in 1970s Britain. Oral historical and archival work on these working-class women and on achievements such as their succeeding to establish unconditional basic income as an official demand of the British Women’s Liberation Movement forms the springboard for my reconstruction of the grassroots feminist economic thought underpinning the women’s basic income demand. I hope to demonstrate, firstly, how this was a prefiguration of ideas later developed by feminist economists and philosophers; secondly, how unique it was for its time and a consequence of the intersectionality of class, gender, race, and dis/ability. Thirdly, I should like to suggest that bringing into the fold this particular grassroots feminist economic thought on basic income would widen the mainstream understanding and historiography of the idea of basic income. Lastly, I hope to make the point that, within the history of economic thought, grassroots economic thought ought to be heeded far more than it currently is.

Drawing on anthropological perspectives, this paper argues that the fungibility of objects and the ability to exchange them for money is a defining characteristic of capitalist markets. In contrast, other systems of reckoning value emphasize the unique relationships within which objects are embedded and their inability to stand for just any other thing. This paper further highlights the role of slavery in the origins and continued dominance of capitalism and the existence of alternative systems such as cooperativism and sharing that are often overlooked. This paper then examines the Saussurean and Peircean semiotics underlying the concept of money as an abstract sign and argues that non-fungible tokens (NFTs) in blockchain technology contradict these theories by emphasizing pure uniqueness and rendering objects non-transformable or inconvertible. This paper concludes by warning against the dangers of a future where fungibility is absent, as it is necessary for life and the generation of new and different possibilities.