The following points highlight the top ten economic ideas of Johan Rogers Commons. The economic ideas are: 1. Economic Institutions 2. Institutional Economics 3. Pragmatic Approach 4. Economic Transactions 5. Theory of Going Concerns 6. Public Utility Theory of Labour 7. Capitalism 8. Explanatory Principles 9. Collective Action 10. Economic Systems. Economic Idea # 1. Economic Institutions: In his book [...]
The following points highlight the top five economic ideas of Wesley Clair Mitchell. The economic ideas are: 1. Method of Study 2. Institutional Approach 3. Theory of Economic Guidance 4. Economic Welfare and Planning 5. Business Cycle. Economic Idea # 1. Method of Study: Mitchell emphasised the quantitative analysis in economic investigations. Through this quantitative method, he was able to [...]
The following points highlight the top eight economic ideas of Thorstein Bunde Veblen. The economic ideas are: 1. Criticism of Earlier Schools of Thought 2. Significance of Institutions 3. The Theory of Business Enterprise 4. Corporations 5. The Theory of the Leisure Class 6. Trade Cycles 7. Class Conflict 8. Value. Economic Idea # 1. Criticism of Earlier Schools of [...]