John R. Commons, "Institutional Economics" American Economic Review, vol. 21 (December 1931), p. 648.
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An institution is defined as collective action in control, liberation and expansion of individual action.
— John R. Commons on Collective action
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "An institution is defined as collective action in control, liberation and expansion of individual action." in the context of "John R. Commons, "Institutional Economics" American Economic Review, vol. 21 (December 1931), p. 648." to mean that wisdom is timeless.
Source: Wikiquote: "Collective action" (Quotes)
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About John R. Commons
John Rogers Commons (October 13, 1862 – May 11, 1945) was an American institutional economist, progressive and labor historian at the University of Wisconsin–Madison.
About John R. Commons
John Rogers Commons (October 13, 1862 – May 11, 1945) was an American institutional economist, progressive and labor historian at the University of Wisconsin–Madison.
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