Titlebook: Contemporary Meanings of John R. Commons’s Institutional Economics; An Analysis Using a Hiroyuki Uni Book 2017 Springer Nature Singapore P

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The Effect of the Great Depression on the Institutional Economics of John R. Commonsxtraordinary event. In fact, Commons formed some of his main concepts, such as his notions of the institution and the rationing transaction, over a 4-year period, from 1927 to 1931, overlapping with the start of the Great Depression in 1929. The evolution of his ideas can be traced from April 1927,

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Two Methods of Institutional Reform in the , of John R. Commonsh its 1927 manuscript “Reasonable Value: A Theory of Volitional Economics” (1927). . (1924) and the 1927 manuscript stress that a higher authority plays a role in institutional reform by settling disputes. In contrast, the discussion in Commons 1934a, written after the 1927 manuscript, focuses on th

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