Institutional Economics. Vol. I: Its Place in Political EconomyCommons 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. |
Contents
Wholesale Prices in United States and England 17901932 | 2 |
The Debt Market Credits and Debits June 1929 | 8 |
METHOD | 13 |
122 | 83 |
QUESNAY | 125 |
HUME AND PEIRCE | 140 |
ADAM SMITH | 158 |
397 | 169 |
FUTURITY | 390 |
CHAPTER PAGE | 407 |
VI THE TRANSACTIONAL SYSTEM OF MONEY | 510 |
COMMUNISM FASCISM CAPITALISM 876 | 519 |
VII THE MARGIN FOR PROFIT | 526 |
CHAPTER PAGE | 568 |
| 578 | |
Capital Yield Open Market Rate and Rediscount Rate 1919 | 604 |
BENTHAM VERSUS BLACKSTONE | 218 |
MALTHUS | 244 |
EFFICIENCY AND SCARCITY | 251 |
pression | 608 |
REASONABLE VALUE | 641 |
Common terms and phrases
abundance Adam Smith assets average bank bankers bargaining power bargaining transactions Bentham buyer capital capitalists cent changes collective action commodities common law concept consumption corporeal property cost courts created custom debt demand discount distinguished divine double meaning economic quantity economists efficiency equal equivalent ethics exchange exchange-value expected factors formula functional psychology future going concern hedonic Hence human Hume Hume's Ibid idea income increase individual input Institutional Economics intangible property John Locke Karl Marx labor labor-pain labor-power land liberty Locke Locke's MacLeod Malthus man-hours managerial transactions manufacturers margin for profit marginal utility Marx materials measure Mercantilists nation nature nomic outgo output ownership pain payment physical Physiocrats pleasure principle production proprietary Proudhon psychology purchasing power Quesnay reason rent Ricardo scarcity scarcity-value seller social taxes things tion transfer unit use-value utility wages wealth Wealth of Nations