Institutional Economics : Its Place in Political Economy, Volume 2

John Rogers Commons

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Economic Theory and Institutions Historical Economic and Legal Thought Legal and Constitutional Studies

Abstract

Commons opened Institutional Economics by declaring: My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.

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