Formative Process of John R. Commons’ Income Approach to Falling Prices
Formative Process of John R. Commons’ Income Approach to Falling Prices
复制标题
约翰·R·康芒斯(John R. Commons)针对价格下跌的收入方法的形成过程
DOI:
10.1080/00213624.2020.1818503
复制
发表时间:
2020
影响因子:
0.7
通讯作者:
Kota Kitagawa
中科院分区:
文献类型:
--
作者:
野添文彬;細矢祐誉;南森 茂太;Kota Kitagawa
I illustrate the formative process of John R. Commons’ price movement theory. To characterize his theoretical development, I propose a framework, “income approach,” in which the change in collective expectation leads to a change in the amount of income, first as bank credit and then as price movement. Further, I illustrate his theoretical development as the framework's formation. Compared with his 1890s papers, his 1923 papers show significant theoretical progress. His reading of Ralph G. Hawtrey, the pioneer of the income approach, may have contributed to this progress. Subsequently, by elaborating on an explanation for the continuously falling prices during the Great Depression, Commons finally established his comprehensive income approachs.