The political economy of Rexford G. Tugwell

Abstract

This study provides an intellectual portrait of Rexford Guy Tugwell. The purpose of this study is to examine the works and career of Tugwell with an eye toward understanding the "Tugwellian system", i.e., Tugwell's notion of the scope and method of economic analysis and his vision of a new economic order - a system of economic planning and social management within the context of democracy and cherished American liberal values. The thesis of this work is twofold: 1) this study asserts that Tugwell's work is thoroughly compatible with the OIE tradition. To validate this point, Tugwell's work will be organized into a framework that is consistent with ODE in terms of both its methodological approach and its policy prescriptions; and 2) the concept of economic balance is crucial to Tugwell's system of thought, and this study will demonstrate the centrality, importance, and validity of balance to the Tugwellian system and the continuing relevance of Tugwell's "balanced economy" framework to the modem economy.