Institutional Economics

Its Place in Political Economy, Volume 1

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, Business & Finance, Economics
Cover of the book Institutional Economics by , Taylor and Francis
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Author: ISBN: 9781351512312
Publisher: Taylor and Francis Publication: April 20, 2018
Imprint: Routledge Language: English
Author:
ISBN: 9781351512312
Publisher: Taylor and Francis
Publication: April 20, 2018
Imprint: Routledge
Language: English

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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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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