A Concept of Two Authors: Commons and Williamson on Transactions

The idea of transactions in social sciences was conceived by John Rogers Commons in the beginning of the 1920s, representing a mental instrument capable of describing capitalism and its peculiarities. On the other hand, Oliver Williamson’s approach in late 1970s reduced the concept to the mere transfer of goods and services in institutions that are or are not guided by the price system. The aim of this article is to present the characteristics of these two different approaches to the concept of transactions, evidencing the role of epistemological aspects and investigative purposes (referred to relevant research context and problem originated in it) as the causes of its metamorphosis. John Commons’ effort to build up a concept not only capable of transcending the idea of exchange but also of giving a totalising perspective to the interpretation of capitalism is emptied in Williamson’s appropriation of the term. By utilising Commons’ conception of transactions and trying to subsume it to his ‘general theory of transaction costs’, Williamson limits its scope and meaning, adjusting it without producing rupture with the neoclassical economy. This article tries to catch the vicissitudes of this concept found in both authors. JEL: B15, B25, B31

Lack of Commitment, Retroactive Taxation, and Macroeconomic Instability

Retroactive tax legislation is constitutional in most high-income countries. In this paper we are concerned with the fiscal and macroeconomic consequences stemming from retroactive income taxation. Within the context of a real neoclassical economy, we find that if the government can set taxes retroactively within the fiscal year—or if there is a positive probability that a future government will be able to use retroactive taxation—then there exists a multiplicity of expectations-driven equilibria. In this case, neither fiscal policy nor macroeconomic aggregates are uniquely pinned down by economic fundamentals. Rather, they are determined by expectations about current and future fiscal policy. This implies that the government is a source of macroeconomic instability. By contrast, a constitutional reform banning the government from using retroactive tax legislation would yield a unique equilibrium, thus removing the possibility of expectations-driven fluctuations.

Bio-Economy at the Crossroads of Sustainable Development

This study aims to review, analyze, and systematize the knowledge created on bio-economy to develop a conceptual and theoretical framework based on the transdisciplinary study of biology and socioeconomy to be used in further research. It begins from the questioning of the benefits that bio-economy has compared to the neoclassical economy. The methods employed are critical analytic, descriptive, deductive-inductive, and it suggests holistic and transdisciplinary approaches. As a result, the core of the study presents the principles under which this new scientific paradigm in sustainable development can continue creating more scientific knowledge to be used in the formulation and implementation of strategic choices for the bio-production, bio-distribution, and bio-consumption processes.

O pojęciu kapitału w późnym kapitalizmie

The concept of capital is one of the most noticeable and at the same time the most unclear concepts organizing not only the field of social sciences, but also the public debate in Poland and in the world. The article analyses two ways of conceptualization of the capital rooted in political and neoclassical economy together with their sociological modifications. The aim of this short reconstruction is to present a complex relation between the economic capital and the social capital treated as moral capital. This ambiguity induces us to ask a question about the significance of shifting this concept from the field of economic analyses to the centre of sociological theories in the context of crisis and transformations of late capitalism.

Położenie klasowo-własnościowe graczy w profesjonalnych sportach drużynowych

Although social sciences do not ignore sports altogether, they do not attempt to analyse the class position of players in team sports. Yerefore, the aim of this paper is to conduct such analysis. Ye starting point is introduction of the idea of socio-economic class based on the theory of economic ownership understood as rent. As the term "economic rent" is used in neoclassical economy, I explain the di>erences between that approach and the one used in this paper. Building on theory and on empirical data on the earnings of players, I conclude that while the sports elite undoubtedly represent ownership and bourgeoisie class, the less !nancially attractive leagues or less earning players represent workers owning labour and sometimes that ownership is severely limited.

Innovation in contemporary economies

The hereby article discusses the issues related to the existing or required support given by the State to enterprises in order to provide them conditions to innovate. Neoclassical economy puts an emphasis to the price mechanism as a decision making effective tool, but enterprises meet many barriers in creating and introducing innovation, like high cost, high risk or lack of demand for innovation. These phenomena tend to inhibit innovation of enterprises. This means that market is not an efficient mechanism for innovation activity of enterprises, and its imperfections provoke the State’s intervention. The goal of the article is to shape the objectives of State’s impact on decisions of innovative enterprises. Research method is the critical literature review and public data on State’s support on business R&D analysis. The research results show State’s support for both – incremental and radical innovation, which proves that innovative activity of enterprises is far from being a spontaneous, market-based process.

Prospects for the development of prosumer energy in Poland

The hereby article discusses the issues related to the existing or required support given by the State to enterprises in order to provide them conditions to innovate. Neoclassical economy puts an emphasis to the price mechanism as a decision making effective tool, but enterprises meet many barriers in creating and introducing innovation, like high cost, high risk or lack of demand for innovation. These phenomena tend to inhibit innovation of enterprises. This means that market is not an efficient mechanism for innovation activity of enterprises, and its imperfections provoke the State’s intervention. The goal of the article is to shape the objectives of State’s impact on decisions of innovative enterprises. Research method is the critical literature review and public data on State’s support on business R&D analysis. The research results show State’s support for both – incremental and radical innovation, which proves that innovative activity of enterprises is far from being a spontaneous, market-based process.