Adair, Philippe - In: Cahiers d’économie politique / Papers in Political … (2013) 64, pp. 45-74
Commons sketches an institutionalist theory of property based on debt, that is a potential of expected income, and the … vector of which is the monetary system. His monetary theory of the credit cycle inspires from Wicksell and Fisher’s debt …-deflation theory, rather than from Fisher’s quantity theory. According to Commons, the Central Bank is the key institution, whose role …