Marc R. Tool is professor emeritus of economics at California State University, Sacramento. He has taught institutional economics and comparative systems, at four universities. He edited the Journal of Economic Institutions from 1981 to 1991. He is the author, editor, or co-editor of over fifteen volumes, including Pricing, Valuation and Systems: Essays in Neoinstitutional Economics; Essays in Social Value Theory: A Neoinstitutionalist Contribution; and The Discretionary Economy: A Normative Theory of Political Economy.