Anyone who cares about capitalism and economics should mourn the death of Ronald Coase! … Most economists had been content to treat firms as black boxes. Mr Coase wondered what the black boxes were doing there in the first place. … Mr Coase argued that firms make economi sense because they can reduce or eliminate the “transaction cost” of going to the market by doing things in-house. … (The Economist, September 6 2013, The economics of companies “The man who showed why firms exist”)
Posted on: Wed, 11 Sep 2013 03:30:41 +0000
Trending Topics
© 2015