Institutional Economics Volume 2 by Malcolm Rutherford
English | 30 Jan. 1989 | ISBN: 0887388310 | 308 Pages | AZW3 | 536.89 KB

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.