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William J. Novak's engaging historiography is at once a recovery project and a prolegomenon to a revised history of political economy. His article chronicles the achievements of Progressive Era institutional economists and critiques the way they have been obscured by the shadow of the Chicago School of economics. Why do the Progressives deserve to be recovered and remembered? According to Novak, it is because they “underwrote one of the more fundamental governmental revolutions in modern times” and created the foundations for the “social control of business” (pp. 676, 672).
Air travel is unpleasant for many reasons, particularly in the post-9/11 age. Yet, blame for the cramped accommodations, bag fees, and lack of direct flights has to be assigned in part to the deregulation of the airline industry in the late 1970s. Airline deregulation and its consequences symbolize the ways in which neoliberal ideas and practices have come to shape economic policies as well as the daily lives of ordinary Americans.