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 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: 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 Groenewegen Publisher: Red Globe Press ISBN: 0230550746 Category : Business & Economics Languages : en Pages : 0
Book Description
Institutional economics is an increasingly important area in the field which also verges into political science and sociology. This concise and lucid textbook, which assumes a basic understanding of neoclassical economics, introduces the key ideas, emphasizing the "new" institutional economics but grounding readers in the traditional perspectives.
Author: Shingo Takahashi Publisher: Taylor & Francis ISBN: 1040166504 Category : Business & Economics Languages : en Pages : 188
Book Description
Takahashi reconstructs the key blocks of one of the founders of the institutional school, John R. Commons’ theories of the evolution of capitalism and of institutional change by taking the concept of transaction as a central point of departure. Commons’ theories continue to influence modern economics, and in this book, Takahashi scrutinizes his construction of transaction and its features and offers a reinterpretation of Commons’ institutional economics and transaction economics. He then explores how Commons’ analysis of going concerns (e.g., firms) has broader and deeper applications that extend to monetary policy, labor policy, and the business cycle. Takahashi examines how Commons’ and Veblen’s dynamic theories share cumulative causation. He closes by positing that Commons’ transaction economics seeks “reasonable capitalism” through a virtuous cycle of reasonable value and generation of good business ethics. This book will be attractive to researchers of institutional economics, political economy, heterodox economics, as well as the history of economic thought, law, and ethics.
Author: Malcolm Rutherford Publisher: Cambridge University Press ISBN: 1139497561 Category : Business & Economics Languages : en Pages : 425
Book Description
This book provides a detailed picture of the institutionalist movement in American economics concentrating on the period between the two World Wars. The discussion brings a new emphasis on the leading role of Walton Hamilton in the formation of institutionalism, on the special importance of the ideals of 'science' and 'social control' embodied within the movement, on the large and close network of individuals involved, on the educational programs and research organizations created by institutionalists and on the significant place of the movement within the mainstream of interwar American economics. In these ways the book focuses on the group most closely involved in the active promotion of the movement, on how they themselves constructed it, on its original intellectual appeal and promise and on its institutional supports and sources of funding.
Author: Malcolm Rutherford Publisher: Cambridge University Press ISBN: 9780521574471 Category : Business & Economics Languages : en Pages : 244
Book Description
This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.
Author: John Rogers Commons Publisher: Taylor & Francis ISBN: 9780415144391 Category : Business & Economics Languages : en Pages : 266
Book Description
First published in 2004. Routledge is an imprint of Taylor & Francis, an informa company. John R Commons is one of the most significnat figures in the development of American economics. One of the founders of the institutional school, Commons developed theories which continue to influnece the evolution of capitalsim and of instituitional change. These volumes collect for the first time, his major essays and articles.
Author: John Rogers Commons Publisher: Transaction Pub ISBN: 9780887387975 Category : Business & Economics Languages : en Pages : 648
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: John Dennis Chasse
Author: Charles J. Whalen
Author: John Groenewegen
Author: John Rogers Commons
Author: Shingo Takahashi
Author: Malcolm Rutherford
Author: Malcolm Rutherford
Author: John Rogers Commons
Author: John Rogers Commons