The Center for the History of Political Economy

Bruce Caldwell of Duke University was awarded a grant by the Institute for New Economic Thinking to expand the programs offered through the Center for the History of Political Economy at Duke University.

The objectives of the programs are to prepare young scholars in economics to teach and to do research in the history of economics; and to promote the use of history of economics in graduate research in other fields of economics.

A deep understanding of history and historical context is as vital to economists as it is to political leaders. Despite its importance, the history of economics as a field of systematic study and instruction is in poor health in economics departments worldwide. Generally speaking, economics departments in American research universities no longer offer history of economics courses to either undergraduate or graduate students, in large part due to a lack of teaching professionals who have been trained in the history of economics.

The cadre of teachers trained through the expansion of programs at the History of Political Economy at Duke University will be key assets in reestablishing the history of economics as a core element of the training of economists.