Michael writes: > You are absolutely correct. > > "Devine, James" wrote: > >> My impression is that Williamson studies non-market >> institutions in order to show that corporate hierarchies >> are a good thing.
I don't know whether he studies market or non-market institutions but other than that what Jim said was more or less what he told me or what I recall from the things he told me: hierarchical and/or centralized forms of governance for the institutions of capitalism are/can be better than other organizational forms. Moreover, he had no urge to make use of the word "democracy" as he was making his claims. As I heard many times in the business world: "We are a business, we are not a democracy!" Here is another one: "We are not in the business of doing good. We do business and good comes out of it!" More or less, that is, as far as I recall. Sabri
