Kenneth Boulding, despite winning a John Bates Clark Medal and publishing three dozen books and at least eight hundred articles, is an underappreciated economist. This article examines three of his most important books—The Image, Stable Peace, and Three Faces of Power—which reflect Boulding’s emphasis on individual agency, subjectivism, the nature of knowledge, open-ended processes, and the role of institutions.

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Yahya Alshamy is a PhD student in the Department of Economics at George Mason University, and a research fellow at the Center for Nonviolence and Peace Studies.
Christopher J. Coyne is a Senior Fellow at the Independent Institute, Professor of Economics at George Mason University, and Co-Editor of The Independent Review. He is the author of the new book, In Search of Monsters to Destroy: The Folly of American Empire and the Paths to Peace.
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