"[You know you are in a part of the economy dealing with grants instead of exchange when] A gives B something and B does not give A anything in the way of an economic good."
— Kenneth Boulding

January 1, 1970

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MysticsPhilosophers from the United StatesQuakersEconomists from the United StatesPeople from Liverpool
Original Language: English

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McCloskey (2013) commented earlier: "Boulding invented what he called, infelicitiously, "grants economics" (he might better have used the anthropologist's term gifts, or even the theologian's term grace... It's an idea about the economy, but draws the attention of economists to exactly what they do not attend to when thinking of exchange alone."