An institution is defined as collective action in control, liberation and expansion of individual action. Its forms are unorganized custom and organized going concerns. The individual action is participation in bargaining, managing and rationing

Another quote →

More quotes by John R. Commons

All John R. Commons quotes →

Attribution

Quote text and notes from Wikiquote: John R. Commons (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.