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. | Institutional Economics by Sam Sebesta, Hardcover | Indigo Chapters