the starting point of the essays in institutional economics and the theory of social value is marc tools seminal work in the field: the essays thus honor tool by extending his analysis and ideas. the essays are loosely grouped under three headings: the theory of social value; the instrumental value principle; and extensions of toolian themes. many of the issues discussed are fundamentally important to institutional economics as well as to the social sciences in general. among them are social value, valuation, instrumentalism, pragmatism, post-modernism, and critical rhetoric. the book balances theoretical essays with ones that deal with actual problems in economics and policy.