John R. Commons's puzzling inconsequentiality as an economic theorist. From: Journal of Economic Issues | Date: December 1, 1995| Author: Ramstad, Yngve | COPYRIGHT 1995 Association for Evolutionary Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Kenneth Boulding has predicted that economist John R. Commons shall become the most influential among the great triumvirate of institutional economists, which include Veblen and Mitchell. Commons has profoundly contributed to the theoretical understanding of the market system. However, Commons can not be credited to have contributed to economic theory since his abstractions have never been mentioned in mainstream treatises and research.

"Veblen, Commons, and Mitchell [are the great tr...

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