William Waller

William T. Waller, Jr.Professor of Economics

Joined faculty in 1982

Ph.D., Economics, University of New Mexico
M.A., Economics, Western Michigan University
B.S., Economics, Western Michigan University

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Contact Information

Stern HallPhone (315) 781-3433

Scholarly Interest

Institutional Economics, Thorstein Veblen
Gift Exchange, Feminist Economics
Public Policy analysis, Economics of Care

Teaching Experience

William R. Kenan Jr. Professor of Economics, Department of Economics, Hobart and William Smith Colleges, 1982-present.

Instructor, Association for Evolutionary Economics and the Department of Economics, Colorado State University Summer School in Institutional Economics, August 2005.

Instructor, Association for Evolutionary Economics and the Department of Economics, University of Missouri, Kansas City Summer School in Institutional Economics, June 2001.

Instructor, Association for Evolutionary Economics and the Jerome Levy Institute Summer School in Institutional Economics, June 1999.


Editor, Journal of Economic Issues

J. Fagg Foster Memorial Lecture, March 2021

Discovery Driven Pillar Award, College of Arts and Sciences, Western Michigan University 2018

Alumni Achievement Award, Department of Economics, Western Michigan University 2018

Helen Cam Visiting Fellow, Girton College, Cambridge University 2017-2018

Veblen-Commons Award 2015, Association for Evolutionary Economics

Fulbright-Hayes Group Project Abroad, Sri Lanka, 1993 (PR/Award P021A30036)

Courses Taught

Economics 122 The Economics of Caring
Economics 301 Microeconomic Theory and Policy
Economics 305 Political Economy
Economics 320 Media Economics
Economics 331 Institutional Economics
An Introduction to Wine


Articles and Book Chapters (recent only. for a full list see CV):

Barbara Wootton’s Contribution to Economic Methodology: Lost “Lament” and “Testament” Ignored. Œconomia – History / Methodology / Philosophy. Forthcoming.

Reflection on Institutions, Instrumental Valuation, and Valuation in Economics. International Journal of Pluralism and Economics Education. Forthcoming.

Missing Middles, Magical Words, and Leaps of Imagination in the Original Institutionalist’s Theory of Behavior. Journal of Economic Issues. 56 (2) 632-639.

Boss Babes and Predatory Optimism: Neoliberalism, Multi-level Marketing and Gender. (with Mary Wrenn) Journal of Economic Issues. 55 (2) June 2021. DOI 10.1080/00213624.2021.1908805

Feminist Institutionalism and Neoliberalism. (with Mary Wrenn) Feminist Economics. 27(3): 51-76. Published online 12 March 2021. doi.org/10.1080/13545701.2021.1883194

The Journal of Economic Issues in the Calculable Future of Original Institutional Economics. Journal of Economic Issues, 54 (2) June 2020. https://doi-org.ezproxy.hws.edu/10.1080/00213624.2020.1743140

Pluralism in Economics 10 Years after the Crisis.  American Review of Political Economy, 13(1), 2019. http://www.arpejournal.com/archived-issues/volume-13-issue-1-papers-and-proceedings-of-the-2018-icape-conference/comments-on-pluralism-and-economics-10-years-after-the-crisis-and-200-years-after-marxs-birth/

The Pathology of Care (with Mary Wrenn). Œconomia – History / Methodology / Philosophy, 8(2), 2018: 157-185. https://journals.openedition.org/oeconomia/2954

A Reconsideration of William Dugger’s Analysis of Power.  Forum for Social Economics, published online September 11, 2017.

Reflections on Class, Gender, and the American Family Farm in the 20thCentury from an original institutionalist perspective.  Rethinking Marxism. Published online: October 25, 2017. 

Care and the Neoliberal Individual (with Mary Wrenn).  Journal of Economic Issues, 51 (2) June 2017. Pp. 495-502. 

Public Policy Adrift:  Veblen’s Blind Drift and Neoliberalism.  Forum for Social Economics, 46(3) 2017. Pp. 223-233. 

Policy in an Era of Unreason: Remarks upon the Receipt of the Veblen-Commons Award.  Journal of Economic Issues, 48 (2) June 2015: 321-328.

Reconsidering Thorstein Veblen’s Use of Instincts.  The Anthem Companion to Thorstein Veblen, edited by Sidney Plotkin, (London: Anthem Press. 2017).

Veblen, Instincts and Exchange. Marx, Veblen, and the Foundations of Heterodox Economics: Essays in Honor of John F. Henry, edited by Tae-Hee Jo and Frederic S. Lee. (New York: Routledge. 2016).

Teaching Political Economy.  In the International Handbook for Teaching and Learning Economics edited by Gail Hoyt and KimMarie McGoldrick.  Cheltenham: Edward Elgar, 2012.



Cultural Economics and Theory: The Evolutionary Economics of David Hamilton, edited by David Hamilton, Glen Atkinson, William M. Dugger, William T. Waller Jr. (London: Routledge, 2010).


Editor, Journal of Economic Issues, 2018-present
Middle States Commission on Higher Education Visiting Team Member 2006, 2008, 2015, 2019
Trustee of The Association for Evolutionary Economics, 2005-present
President of The Association for Evolutionary Economics, 2004
Member of the Editorial Board, Journal of Economic Issues, 2002-2004
President, Association for Institutional Thought, 1992-1993

Member of the:
Association for Evolutionary Economics
International Thorstein Veblen Association
Association for Institutional Thought
European Association for Evolutionary Political Economy
International Association for Feminist Economics
Association for Social Economics
Western Social Science Association
Association for Heterodox Economics


I teach. I write. I read. I pour. I play with my grandkids.

Office Hours

Contact me for a Zoom link. waller@hws.edu

William Waller


William Waller