Background
COMMONS, John Roger was born in 1862 in Hollandsburg, Ohio, United States of America.
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(Clark's major statement of marginal productivity theory p...)
Clark's major statement of marginal productivity theory provided a discussion of the relation of statics and dynamics superior to previous treatments and for the first time a complete, lucid exposition of the neo-classical theory of distribution. "A remarkable book and, by any reasonable test, a landmark treatise in the development of economics." The New Palgrave
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(This book examines key issues connected with the distribu...)
This book examines key issues connected with the distribution of personal wealth in the UK. It examines why wealth is now such an important factor in social differences and public policy. It presents the most recent information on current wealth inequalities and a detailed discussion of trends in the distribution of wealth. It uses newly available data to compare wealth inequalities in the UK with the USA, Canada and Sweden. It uses longitudinal data, which track the same people over time, to examine trajectories in wealth accumulation over the decade to 2005 and inequalities in inheritances over the same period. It looks at how parental wealth levels and people's asset-holdings early in adulthood affect outcomes later in their lives. The final part looks at the way in which policies towards wealth-holding developed historically, and the contradictory ways in which a wide range of public policies relate to people's wealth levels, including through taxation, means-testing, and the encouragement of saving, and discusses what the key issues for policy towards wealth and wealth inequalities now are. Personal wealth in the UK totalled L5.5 trillion by 2010 (L9-10 trillion if occupational pension rights are included). Inheritance flows are now equivalent to 4 per cent of national income each year. All households in the wealthiest tenth have more than 75 times the wealth of any of those in the bottom tenth. Absolute differences in wealth levels have increased substantially over the last 15 years, so wealth differences represent many more years of income than in the past. This makes them of great importance to life chances. This makes the book highly relevant for public policy, but also for academic and student understanding of a crucial dimension of social difference. As well as bringing together existing information on the area, the book contains considerable new analysis on wealth inequality, inheritance and their impacts, drawing on work which is at the forefront of recent research.
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(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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( This work has been selected by scholars as being cultur...)
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
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(This historic book may have numerous typos and missing te...)
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...is a process that yields subjective returns, which are measured in the sensibilities of men and are the ultimate objects of the production itself. The immediate objects of production, on the other hand, are the material things that affect the consumer's sensibilities. These things are objective, but they are valued only for what they do for man. Man acting on man through matter--such is the whole economic process. How much can be gained by the whole of it? is the practical question to be answered. The gain depends on the benefit that a product will afford to a man when he gets it, and also on the number of products which he can get. This, however, is merely saying that it depends on the utility of the goods, and on the productivity of the agents that create them. It depends, then, on the two variations that are governed by this law. Final utility itself has been studied in a way too narrowly limited. In the case that is usually cited, T Recent application of the principle to series of similar commodities. Abruptly descending utility curves thus gained. Increasing wealth in varied forms shows gradually diminishing utility. one commodity is taken and, in imagination, is given in increasing quantity to one consumer. The successive units_pf it then do less and less for him. Bread given to a man in a succession of slices nourishes, and pleases, but uWmejyluts_ him. The nth slice, if he must eat it, is worth nothing to him, and the following slices less than nothing. Coats of one kind bestowed on a man, one after another, soon lose their power to benefit him. The fourth may be of so little use that a tramp can have it for the asking. Duplicate copies of the same book or of the same picture encumber the shelves and walls, and their room is better than their presen...
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(This historic book may have numerous typos and missing te...)
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1893 edition. Excerpt: ...later increments. But it means that should additional increments be employed, the average return for all would be less than it actually is. In other words, diminishing returns, when referred to a given unit or dose of investment in a given round of production, are not actual but theoretical and potential. They are always described by the auxiliary would. They are a product of the intellect, and are conceived only by comparing the returns in one round of production where a given amount of capital and labour is invested, with another possible or prospective round having a larger investment. It is only by a logical device that the different increments invested in the given round are attributed with different amounts of the total product. Yet this logical device is legitimate, and furnishes the only means of tracing out primary causes. It is only by referring to what would have been or what might have been that we are able to ascribe different effects to different units in actual production. This is simply one way in which theory descends beneath the phenomena of practice, and by means of analysis searches out primary causes and relations. The so-called opposition between theory and practice is only an opposition between incorrect theory and practice. Theory rightly viewed is an explanation of practice, or at least an attempt at explanation. In Diagram VI., it is evident that the marginal investment, instead of being carried out to a'b' will be carried only to, say, a'b", where the value of the marginal product will be b"c", and the value of the total product will be the area a'b"c"f. This product would, then, on the average just cover the total expenses, a'b"o"'d'. The distinction here noticed may be better...
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(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections
such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact,
or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections,
have elected to bring it back into print as part of our continuing commitment to the preservation of printed works
worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to ensure edition identification:
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The Distribution Of Wealth: A Theory Of Wages, Interest And Profit
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(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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( This work has been selected by scholars as being cultur...)
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
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(Originally published: Madison: The University of Wisconsi...)
Originally published: Madison: The University of Wisconsin Press, 1968. x, 394 pp. This book outlines an evolutionary and behavioral theory of value based on data drawn from court decisions. Analyzing the meaning of reasonable value as defined by the courts, Commons finds that the answer is based on a notion of reasonable conduct. Expanding this point to encompass the habits and customs of social life, he shows that court decisions are based on customs that are powerful forces shaping the economic system. Reprint of sole edition.
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( In what has universally been recognized as a classic of...)
In what has universally been recognized as a classic of institutional economics, John R. Commons combined the skills of a professional economist, the sensibilities of an American historian, and the passion of an active participant in the conflicts of individuals, self-interest of groups, and function of voluntary associations. The aim of this volume is to work out an evolutionary and behavioral theory of value. In order to do so thoroughly, Commons examines the decisions of the courts. Doing so compelled an examination of what the courts mean by reasonable value. Commons found that the answer was tied up with a notion of reasonable conduct. It was Commons who carried the study of the habits and customs of social life to the next stage: the decisions of the courts that are based on custom and that profoundly impact the nature and function of the economic system as such. Reviewing Legal Foundations of Capitalism, Wesley Mitchell declared that Commons carried this “analysis further along his chosen line than any of his predecessors. Into our knowledge of capitalism he has incorporated a great body of new materials which no one else has used adequately.” And writing in the same American Economic Review twenty-one years later, Selig Perlman noted that “To Commons the workingmen were not abstract building blocks out of which a favored deity called History was to shape the architecture of the new society, but concrete beings with legitimate ambitions for a higher standard of living and for more dignity in their lives.” This edition is graced with a special introduction that places Commons in proper academic as well as intellectual context.
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(An exploration of the impact of legal institutions on the...)
An exploration of the impact of legal institutions on the evolution of capitalism, particularly the substantive content of the concept of reasonableness. The source and nature of one of Commons's most explosive concepts--the labor contract--is highlighted in the new preface by Joseph Dorfman. "In ... placing jurisprudence at the centre of economic inquiry... He was thereby the inventor of ... the economics of law." M. Blaug Great Economists Before Keynes
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( Commons opened Institutional Economics by declaring: "M...)
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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(The market is the central institution of the global econo...)
The market is the central institution of the global economy, driving the development that has so dramatically improved living standards for many of the world's people over the past two centuries. But the market has also helped to keep many other people in poverty, and it has played a major role in the ongoing degradation of the environment. In Economic Geography: An Institutional Approach, Roger Hayter and Jerry Patchell offer a comprehensive introduction to the study of economic activity in place and across space, centred on the interplay of the economic, social, and political institutions that do so much to determine the quality of life in a particular place: from its economic efficiency to the degree of social equity it enjoys and its position in what is now a global economic system. Perfect for courses in economic geography, the text provides both a solid foundation in the location dynamics of value chains and a perspective that recognizes the interdependence of places, institutions, activities, and ways of life around the world.
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( Institutional economics is an increasingly important ar...)
Institutional economics is an increasingly important area in the field which also verges into political science and sociology. This concise and lucid textbook, which assumes a basic understanding of neoclassical economics, introduces the key ideas, emphasizing the "new" institutional economics but grounding readers in the traditional perspectives.
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(The New Institutional Economics incorporates a theory of ...)
The New Institutional Economics incorporates a theory of institutions into economics. It builds upon the fundamental assumptions of scarcity and competition but abandons institutional rationality. Consequently, NIE assumes that individuals make choices based on incomplete information and limited mental capacity, forming institutions to reduce uncertainty in human exchange. These insights have implications for technological change, property rights, and public choice. "The Frontiers of the New Institutional Economics" presents new essays written specifically for this volume. These essays provide an introduction to the nature and practice of the New Institutional Economics, with a special emphasis on economic history and political economy. Among the contributors are Nobel Prize winners Douglass North and Robert Fogel. The key features are: contains essays by Nobel Prize winners Douglass North and Robert Fogel; presents a field of economics useful to students of political science and sociology; applicable to studies of technological change, property rights, and public choice.
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COMMONS, John Roger was born in 1862 in Hollandsburg, Ohio, United States of America.
Bachelor of Arts Oberlin College, 1888.
Both a theorist and a successful maker of economic policy. His early interest in both the German historical school and marginalism was the inspiration for The Distribution of Wealth. In his later theoretical works he developed an analysis of collective action by the State, and a wide range of other institutions, which he saw as essential to understanding economic life.
This institutional theory was closely related to his remarkable successes in factfinding and drafting legislation on a wide range of social issues for the State of Wisconsin.
The State became a laboratory for progressive innovations whose success later gave Commons a similar role at the federal level Indeed, his practical work has been remembered more favourably than his theory which reached its fullest form in Institutional Economics.
He was also a major historian of American labour. Teacher Economics, Universities Wesleyan, Oberlin, Indiana and Syracuse, 1890-1899.
Professor, University Wisconsin, 1904.
(Clark's major statement of marginal productivity theory p...)
( Commons opened Institutional Economics by declaring: "M...)
( Commons opened Institutional Economics by declaring: "M...)
(The market is the central institution of the global econo...)
(Unlike some other reproductions of classic texts (1) We h...)
(An exploration of the impact of legal institutions on the...)
(An exploration of the impact of legal institutions on the...)
( This work has been selected by scholars as being cultur...)
( This work has been selected by scholars as being cultur...)
( This work has been selected by scholars as being cultur...)
( Institutional economics is an increasingly important ar...)
(This book examines key issues connected with the distribu...)
( In what has universally been recognized as a classic of...)
( In what has universally been recognized as a classic of...)
(The New Institutional Economics incorporates a theory of ...)
(This is a pre-1923 historical reproduction that was curat...)
(This is a pre-1923 historical reproduction that was curat...)
(Originally published: Madison: The University of Wisconsi...)
(Originally published: Madison: The University of Wisconsi...)
(This historic book may have numerous typos and missing te...)
(This historic book may have numerous typos and missing te...)
(This historic book may have numerous typos and missing te...)
(This is a reproduction of a book published before 1923. T...)
(This is a reproduction of a book published before 1923. T...)
(This is a reproduction of a book published before 1923. T...)
(This is a reproduction of a book published before 1923. T...)
(This is a reproduction of a book published before 1923. T...)
(Reprint edition)
(Reprint edition)