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Author: Hiroyuki Uni Publisher: Springer ISBN: 9811032025 Category : Business & Economics Languages : en Pages : 242
Book Description
This book is the first to reinterpret John R. Commons's Institutional Economics with a newly discovered manuscript written in 1927 in order to find its contemporary meanings in economic theories. Commons aimed to establish institutional economics to understand capitalism in the USA of that time, when people’s collective actions were gaining importance with the emergence of powerful labor unions, oligopolistic corporations, and national judicial systems. Setting three types of transactions as his central concepts for analysis, Commons described dynamics of capitalism as multiple and cumulative causal processes of transactions, through which the final goal should be achievements of a "reasonable value". He also believed that the reasonable value could be achieved by the evolution of institutions. There is no doubt that Commons's ideas proposed in Institutional Economics such as transactions and collective actions greatly inspired later economists; however, few studies have contributed to comprehensive understanding of the origin of his masterpiece. To what extent and in what sense had Commons rejected or accepted previous classical economics or marginalism for constituting his original institutional economics? What are the meanings and limitations that reasonable value may have for contemporary political economy? Institutional Economics as attempts to resolve deep economic problems at that time. Commons's efforts create important implications for us, those who are living in an era after the global financial crisis and confronting various challenges to political economy.
Author: Hiroyuki Uni Publisher: Springer ISBN: 9811032025 Category : Business & Economics Languages : en Pages : 242
Book Description
This book is the first to reinterpret John R. Commons's Institutional Economics with a newly discovered manuscript written in 1927 in order to find its contemporary meanings in economic theories. Commons aimed to establish institutional economics to understand capitalism in the USA of that time, when people’s collective actions were gaining importance with the emergence of powerful labor unions, oligopolistic corporations, and national judicial systems. Setting three types of transactions as his central concepts for analysis, Commons described dynamics of capitalism as multiple and cumulative causal processes of transactions, through which the final goal should be achievements of a "reasonable value". He also believed that the reasonable value could be achieved by the evolution of institutions. There is no doubt that Commons's ideas proposed in Institutional Economics such as transactions and collective actions greatly inspired later economists; however, few studies have contributed to comprehensive understanding of the origin of his masterpiece. To what extent and in what sense had Commons rejected or accepted previous classical economics or marginalism for constituting his original institutional economics? What are the meanings and limitations that reasonable value may have for contemporary political economy? Institutional Economics as attempts to resolve deep economic problems at that time. Commons's efforts create important implications for us, those who are living in an era after the global financial crisis and confronting various challenges to political economy.
Author: John Rogers Commons Publisher: Transaction Publishers ISBN: 1412826322 Category : Business & Economics Languages : en Pages : 688
Book Description
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.
Author: Malcolm Rutherford Publisher: Routledge ISBN: 1134775571 Category : Business & Economics Languages : en Pages : 258
Book Description
John R. Commons is one of the most significant figures in the development of American economics. One of the founders of the Institutional school, Commons developed theories of the evolution of capitalism and of institutional change which continue to influence modern economics. These volumes collect, for the first time, his major essays and articles.
Author: Marc R. Tool Publisher: Springer Science & Business Media ISBN: 9401139989 Category : Business & Economics Languages : en Pages : 234
Book Description
J. Fagg Foster (1907-1985) was one of the most significant creators of institutionalist economic theory in the twentieth century. He wrote and taught in the American intellectual tradition of Thorstein Weblen, John R. Commons, John Dewey and Clarence E. Ayres. This tradition shares purpose and philosophy with the European contributors, Gunnar Myrdal and K. William Kapp. Because little of Foster's scholarly work was formally published, professional knowledge of his extraordinary contribution is quite limited beyond the circle of his students and colleagues. Value Theory and Economic Progress attempts to correct that deficiency by providing an extended characterization of this missing and crucial component of the development of American heterodox economic thought. Its purpose is to demonstrate the timely relevance and significance of this model of inquiry in political economy. In addition, this volume explains that contemporary problem solving means changing `what is' into `what ought to be' through institutional adjustments; such a demonstration is at the heart of Foster's contribution to institutional thought.
Author: Charles J. Whalen Publisher: Routledge ISBN: 1000462994 Category : Business & Economics Languages : en Pages : 316
Book Description
Institutional economics is a sociocultural discipline and policy science which draws on the idea that economies are best understood through an appreciation of history, real-world institutions, and socioeconomic interrelations. This book brings together leading institutionalists to examine the tradition’s most essential perspectives and methods. The contributors to the book draw on a broad range of institutional thought from the classic work of Thorstein Veblen, John R. Commons, and Karl Polanyi, to the newer viewpoints of post-Keynesian institutionalism, feminist institutionalism, and environmental institutionalism. Methods range from frameworks used to analyze public policy and institutional change, to modes of analysis including myth busting, historically grounded narratives, and computer-based simulations. Each chapter surveys the origins, development, key features, applications, and frontiers of a particular viewpoint, framework, or mode of analysis. Due consideration is given to both strengths and weaknesses; and woven into the chapters is attention to core institutionalist concepts, including technology, institutions, culture, and complexity. The book provides economists with promising starting points for new research, students with contributions refreshingly in touch with the real world, and policymakers and social scientists with compelling reasons for engaging further with the institutionalist tradition.
Author: John Dennis Chasse Publisher: Routledge ISBN: 1351606271 Category : Business & Economics Languages : en Pages : 484
Book Description
John R. Commons is one of the few reformers of the past century whose major works are still actively read, whose ideas are still debated, and whose principles are still applied to the analysis of contemporary problems. His life spanned the years of America’s “Great Transformation,” from a nation of shopkeepers, farmers, and small towns to one of giant corporations, landless laborers, and crowded cities. He became involved in almost every aspect of America’s response to the damaging side effects of that transformation. A Worker’s Economist begins with John Commons’ childhood and education and continues through his life as a scholar, teacher, administrator, and reformer. Commons’ list of accomplishments are great in number and overall effect. He worked on the staff of the first government commission to investigate the economic and social consequences of corporate mergers. He served as a public representative on the commission that investigated industrial violence and workplace relations. He was a participant observer in America’s largest and most historic mineworkers’ strike. He wrote and administered the nation’s first constitutional worker compensation law. He developed principles of social reform and public administration that his students carried into the design and administration of the Social Security system as well as Lyndon B. Johnson’s War on Poverty. John Dennis Chasse reviews Commons’ major works, describes the people with whom he worked, and follows the fortunes of the unions that were intrinsic to his vision of “collective democracy.” As a final testament to Commons’ importance, Chasse considers his legacy as it endures in the work of his students and beyond.
Author: John Rogers Commons Publisher: Madison : University of Wisconsin Press, 1970 [c1950] ISBN: Category : Political Science Languages : en Pages : 420
Author: Sam Sebesta Publisher: Routledge ISBN: 1351512323 Category : Business & Economics Languages : en Pages : 687
Book Description
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.
Author: Hiroyuki Uni
Author: Hiroyuki Uni
Author: John Rogers Commons
Author: John Rogers Commons
Author: Malcolm Rutherford
Author: Marc R. Tool
Author: John Rogers Commons
Author: Charles J. Whalen
Author: John Dennis Chasse
Author: John Rogers Commons
Author: Sam Sebesta