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Unlike some other reproductions of classic texts (1) We have not
used OCR(Optical Character Recognition), as this leads to bad
quality books with introduced typos. (2) In books where there are
images such as portraits, maps, sketches etc We have endeavoured to
keep the quality of these images, so they represent accurately the
original artefact. Although occasionally there may be certain
imperfections with these old texts, we feel they deserve to be made
available for future generations to enjoy.
CLASSIC STUDY OF AMERICAN LABOR ECONOMICS "This book outlines an
evolutionary and behavioral theory of value based on data drawn
from court decisions. Analyzing the meaning of reasonable value as
defined by the courts, Commons finds that the answer is based on a
notion of reasonable conduct. Expanding this point to encompass the
habits and customs of social life, he shows that court decisions
are based on customs that are powerful forces shaping the economic
system. John R. Commons has contributed in one way or another to
practically every piece of social and labor legislation that has
been enacted in the 20th century." --JACK BARBASH, Monthly Labor
Review, May 1989, Vol. 112, No. 5 " An] . . . analysis further
along his chosen line than any of his predecessors. Into our
knowledge of capitalism he has incorporated a great body of new
materials which no one else has used adequately."-- WESLEY
MITCHELL, American Economic Review, XIV (1924) 253 John R. Commons
1862-1945] was a Professor of Economics at the University of
Wisconsin. He was the author and editor of numerous works, and
established his reputation with his editorial contributions to A
Documentary History of American Industrial Society (1910-1911). He
was the author of The Distribution of Wealth (1893), Institutional
Economics (1934) and co-author of the History of Labor in the
United States (1918-1935). Commons drafted much of the nationally
influential labor legislation for the state of Wisconsin that gave
unions legal privileges, offered compulsory unemployment insurance
to workers and established the first system of workers'
compensation in the United States. Due to these path-breaking
reforms, he is considered to be the spiritual father of the Social
Security Act.
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