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He also believed that the reasonable value could be achieved by the evolution of institutions.There is no doubt that Commons's ideas proposed in Institutional Economics such as transactions and collective actions greatly inspired later economists;
Hiroyuki Uni, Graduate School of Economics, Kyoto University
Part I: Volitional Theory of Value with Multiple Causations.- 1. Scope of John R. Commons’s Criticism of the Classical Theory of Value: Progress and Limitations in the 1927 Manuscript (Hiroyuki Uni).- 2. From Carl Menger to John R. Commons: Human Volition and Value Theory in Institutional Economics (Natsuka Tokumaru).- Part II: Theories for Social Reform.- 3. The Effect of the Great Depression on the Institutional Economics of John R. Commons (Shingo Takahashi).- 4. Two Methods of Institutional Reform in the Institutional Economics of John R. Commons (Kota Kitagawa).- 5. John R. Commons and Gunnar Myrdal on Institutional Economics: Their Methods of Social Reform (Nanako Fujita).- Part III: Accomplished Dynamic Models.- 6. John R. Commons’s Two Evolutionary Models of Capitalism: Indus-trial Stages and Economic Stages (Takao Tsukamoto).- 7. The Theoretical Connection between John R. Commons and Regula-tion and Convention Theories (Hiroyuki Uni and Takayuki Nakahara).- Appendix: Excerpts from the 1927 Manuscript: Reasonable Value, A Theo-ry of Volitional Economics.
