Overview

""Legal Foundations of Capitalism"" is a cornerstone of institutional economics that examines the historical and judicial structures underlying modern economic systems. Written by the influential economist John R. Commons, this work offers a profound analysis of how legal concepts-specifically regarding property, value, and sovereignty-have evolved to facilitate the development of the capitalist order. The text explores the transition from a feudal conception of tangible property to the modern definition of incorporeal and intangible assets. Commons meticulously details the role of the state and the judiciary in defining the boundaries of the market, arguing that economic activity is inseparable from the legal framework that governs it. By investigating the concept of the ""going concern"" and the shifting nature of transactions, the book provides a comprehensive look at how collective action and legal decisions shape economic life. This work is essential for scholars and students of economic history, political science, and the philosophy of law. It remains a vital resource for understanding the complex interplay between legal institutions and the development of the marketplace, highlighting the social and political foundations of economic power and exchange. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you may see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

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