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Institutional Economics: Its Place in Political Economy
Institutional Economics is a book that concentrates somewhat on the theoretical issues, but Commons' pratical interests are never out of sight for long. That many of the particular pratical issues discussed by Commons seem of less pressing importance today is in part the result of his many institutional reform effort. In contrast, his theoretical concerns still remain. The three key elements of this book are 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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