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The unexplored influences of modern physics on John R. Commons’ economic theory

Author

Listed:
  • Sebastião Neto Ribeiro Guedes
  • Rodrigo Constantino Jerônimo

Abstract

Previous works of John R. Commons’ interpreters have emphasized the influence of numerous theoretical-methodological references (e.g., pragmatism, evolutionism, etc.) in shaping his economic thought. However, almost no mention is made of the influence of particle and relativity physics, which, as we debate, provide sources of insights to his work. This paper explores these connections by showing that John R. Commons was not only interested in the advances of that science but was also inspired by them to produce parallels and analogies that allowed his theory to escape the pitfalls of individualism and determinism while incorporating time and space in an innovative way in the economic discourse. JEL Classification: B15; B25; B31

Suggested Citation

  • Sebastião Neto Ribeiro Guedes & Rodrigo Constantino Jerônimo, 2021. "The unexplored influences of modern physics on John R. Commons’ economic theory," Brazilian Journal of Political Economy, Center of Political Economy, vol. 41(2), pages 333-350.
    • Handle: RePEc:ekm:repojs:v:41:y:2021:i:2:p:333-350:id:2156
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    Keywords

    Institutional economics; modern physics; John R. Commons economic theory;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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