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Legal Foundations of Capitalism by John R. Commons Pdf
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.
Legal Foundations of Capitalism by John R. Commons Pdf
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.
Legal Foundations of Capitalism. -- by John Rogers 1862-1945 Commons Pdf
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The Legal Foundations of Free Markets by Stephen F. Copp Pdf
Bringing together some of the world's leading figures in the field of law and economics, this book discusses questions that are central to understanding how a free-market economy operates. Though most people accept that a free economy cannot exist in a legal vacuum, important questions about how systems of law come into being and what form they should take remain in dispute. The contributors shed light on some of these issues, such as whether common law systems are better than codified law systems; the relationship between natural law and government law; whether systems of law evolve within societies or are imposed from above by government; and the role of human rights as guaranteed by constitutions. After examining these questions, specific problems are examined that are frequently disputed by economists--such as the role of competition law; the relationship between law, regulation and economics; and, how the law can protect the environment without onerous regulation. This collection is an important contribution to the literature in the field of law and economics, both for economists who wish to understand more about the origins and purposes of law and regulation, and for lawyers who need to understand more about the economic foundations of sound legal systems. It contains contributions from Norman Barry, David Campbell, Richard A. Epstein, Samuel Gregg, Peter T. Leeson, Julian Morris, Anthony Ogus, and Cento Veljanovski.
The Legal Foundations of Free Markets by Stephen F. Copp Pdf
In this book, Stephen Copp has brought together some of the world's leading figures in the field of law and economics to discuss questions that are central to our understanding of how a free-market economy operates.Though most people accept that a free economy cannot exist in a legal vacuum, important questions about how systems of law come into being and what form they should take remain in dispute. The authors shed light on some of these issues, such as whether common law systems are better than codified law systems; the relationship between natural law and government law; whether systems of law evolve within societies or are imposed from above by government; and the role of human rights, as guaranteed by constitutions. After examining these questions, the authors then proceed to look at specific problems that are frequently disputed by economists - such as the role of competition law; the relationship between law, regulation and economics; and how the law can protect the environment without onerous regulation.This collection is an important contribution to the literature in the field of law and economics. It is important both for economists who wish to understand more about the origins and purposes of law and regulation,and for lawyers who need to understand more about the economic foundations of sound legal systems.'This book is fantastic. It is a perfect blend of historical analysis, economics and legal theory, and should be on the bookshelf of every serious student in the field of Law and Economics.' Alex Robson, Australian National University.
Micro-institutional Foundations of Capitalism by Roselyn Hsueh Pdf
What is the relationship between internal development and integration into the global economy in developing countries? How and why do state–market relations differ? And do these differences matter in the post-cold war era of global conflict and cooperation? Drawing on research in China, India, and Russia and examining sectors from textiles to telecommunications, Micro-institutional Foundations of Capitalism introduces a new theory of sectoral pathways to globalization and development. Adopting a historical approach, the book's Strategic Value Framework shows how state elites perceive the strategic value of sectors in response to internal and external pressures. Sectoral structures and organization of institutions further determine the role of the state in market coordination and property rights arrangements. The resultant dominant patterns of market governance vary by country and sector within country. These national configurations of sectoral models are the micro-institutional foundations of capitalism, which mediate globalization and development.
After Piketty by Heather Boushey,J. Bradford DeLong,Marshall Steinbaum Pdf
Are Thomas Piketty’s analyses of inequality on target? Where should researchers go from here in exploring the ideas he pushed to the forefront of global conversation? In After Piketty, a cast of economists and other social scientists tackle these questions in dialogue with Piketty, in what is sure to be a much-debated book in its own right.
Capitalism and Commerce by Edward Wayne Younkins Pdf
In Capitalism and Commerce, Edward Younkins provides a clear and accessible introduction to the best moral and economic arguments for capitalism. Drawn from over a decade of business school teaching, Younkins's work offers the student of political economy and the educated layperson a clear, systematic treatment of the philosophical concepts that underpin the idea of capitalism and the business, legal, and political institutions that impact commercial enterprises. Divided into seven parts, the work discusses capitalism and morality; individuals, communities, and the role of the state; private and corporate ownership; entrepreneurship and technological progress; law, justice, and corporate governance; and the obstacles to a free market and limited government.
Varieties of Capitalism by Peter A. Hall,David W. Soskice Pdf
Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.
Conceptualizing Capitalism by Geoffrey M. Hodgson Pdf
Capitalism is the dominant economic framework in modern history, but it s unclear how it really works. Relying on the free movement and spontaneous coordination of seemingly infinitesimal market forces, its very essence is remarkably complex. Geoffrey M. Hodgson offers a more precise conceptual framework, defines the concepts involved, and illustrates that what is most important, and what has been most often overlooked, are institutions and contractsthe law. Chapter by chapter, Hodgson focuses in on how capitalism works at its very core to develop his own definitive theory of capitalism. By employing economic history and comparative analysis toward explanatory and analytical ends, Hodgson shows how capitalism is not an eternal or natural order, but indeed a relatively recent institution. If anyone were qualified to venture such a comprehensive and definitive analysis of such an important economic, legal, and social phenomenon, it is Geoffrey Hodgson. "Conceptualizing Capitalism" will significantly alter and carry forward our understanding of markets and how they work."
Law and the Rise of Capitalism by Michael Tigar Pdf
Tigar (Washington College of Law, American U.) has written a new introduction and extended afterword that update this Marxist analysis of law and jurisprudence, originally published in 1977. The study traces the role of law and lawyers in the rise of the European bourgeoisie. The new material discusses human rights issues and social movements over the past two decades, including political prisoners and the death penalty. c. Book News Inc.
"Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital - and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations--assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it."--Provided by publisher.
Law, Informal Rules and Economic Performance by Svetozar Pejovich,Enrico Colombatto Pdf
Almost everyone will gain something of value from reading this book. For those who work in the new institutional economics, Pejovich provides a thoughtful treatment of how common-law and civil-law systems affect personal freedoms and rule of law. The book s larger market, however, will comprise educated lay readers, who will gain a deeper appreciation of the foundations of capitalism in the developed world and of the dynamics of interrelated institutional and economic change. Lee J. Alston, The Independent Review . . . a well written, easily read book which casts light on many aspects of law and on questions which are or should be debated in our law schools. . . well laid out and presented. . . Its subject matter makes it essential reading for all those studying comparative law and of course law and economics and even for those studying legislation. It would be more than useful for those engaged in property law, the law of contract and administrative and public law. In other words it would be useful and challenging reading for just about all law teachers and students as well as practitioners who wish to think about the basics of what they are doing. Its easy combination of history, comparative technique, legal fundamentals and economics with no maths would even make it an excellent reader for LAWS 101. Bernard Robertson, New Zealand Law Journal Professor Pejovich has written an impressive lot on comparative economic systems, institutions, policies and broader social aspects of economic development. . . His long work in the field quite predictably made him able to present his views and findings in an ever clearer, more orderly and more profoundly argued way. . . This is one of the rare books in which the author is well aware of what he is talking about and makes sure that the same goes for his readers. Ljubomir Madzar Professor Pejovich has ranged expertly across such seemingly disparate areas as legal systems, culture, economics and public choice theory to give us a thoroughly convincing roadmap for a nation s economic success. The rule of law, enforcement of private contracts, private property rights and an independent judiciary are the basic building blocks. But the common law system, as compared to the civil law system emanating from the European continent, also gets a lot of the credit. This is an erudite, yet happily readable work that takes a lot of the mystery out of differential economic performance among nations. Henry G. Manne, George Mason University School of Law, US Written by one of the pioneers of modern property rights economics this book provides a most insightful, well readable and engaged discussion of the institutional foundations of the Western free enterprise system and the reason for its success, with a special emphasis on the differences between common law and civil law institutions. Readers will especially appreciate the many instructive examples and court cases that serve to illustrate the general argument. Viktor J. Vanberg, Universitaet Freiburg, Germany This is a must-read for anyone who wants to understand why Western capitalism has outperformed all other economic systems. Professor Pejovich explains how the institutions of capitalism, especially those based on common law, make for excellence, even in comparison with Western civil law countries. He presents a compelling theory of how systems evolve through the interactions of formal and informal institutions, an analysis that has deep significance for economic reform proposals throughout the world. John H. Moore, Grove City College, US There are many books on the virtues of capitalism and capitalism as a moral system. Steve Pejovich avoids that mistake. Capitalism, for him, is a system based on human behavior. It survives because it meets the needs that individuals face and provides opportunities that individuals are able to accept. Unlike the utopian visions that have competed against capitalism, it does not impose the vision of a
