Walton Hale Hamilton Quotes

3 Sourced Quotes

In some form or other the rivalry of men will continue to be employed as an instrument of the general welfare. It is not important that the arrangements which currently are set down as the competitive system will endure. It is important that the spirit of competition shall be enhanced and not impaired. There must be an outlet for the creative urge, free play for the dynamic drive. In a society, as in the physical world, motion is inseparable from life.

Walton Hale Hamilton

INSTITUTION is a verbal symbol which for want of a better describes a cluster of social usages. It connotes a way of thought or action of some prevalence and permanence, which is embedded in the habits of a group or the customs of a people.

Walton Hale Hamilton

There [is]... a list of five tests which any body of doctrine which aspires to the name of economic theory must be able to meet:

Walton Hale Hamilton

Walton Hale Hamilton

Walton Hale Hamilton

Born: 1881

Died: 1958 (aged 77)

Bio: Walton Hale Hamilton was an American law professor who taught at the Yale Law School, although he was an economist, not a lawyer. In 1919 Hamilton coined the term "Institutional economics".

Known for:

Exercises in Current Economics (1916)
The Pattern of Competition (1940)
CURRENT ECONOMIC PROBLEMS A SE
The Path of Due Process of Law

Walton Hale Hamilton on Wikipedia

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