Institutional Economics: Its Place in Political Economy, Volume 1

1st Edition

John R. Commons

Routledge
Published January 30, 1989
Reference - 686 Pages
ISBN 9780887387975 - CAT# Y351315

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Summary

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 action." 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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