COMMONS, John R.

£2,500 · Offered by Peter Harrington · No longer available

Legal Foundations of Capitalism. First edition, first printing, of this major treatise by a key scholar of 20th-century labour economics. Here, Commons examines the rulings of American courts to develop an evolutionary and behavioural theory of capital value. He also explores the defects of the capitalist system, envisaging institutional change as an alleviating factor.In 1924, John R. Commons (1862-1945) was teaching at the University of Wisconsin, where he drafted innovative legislation to introduce compulsory workers' insurance and compensation.In Legal Foundations, he emphasizes the importance, for economic theory, of collective action, including the corporation and the trade union.This copy includes a tipped-in review slip from the American Journal of Sociology. Commons's book is noted in a survey of recent literature included in the July 1924 edition of the journal.

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