There's a bit of the TC approach in John Commons as well...... Ian ----- Original Message ----- From: "Michael Perelman" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Tuesday, April 16, 2002 10:07 PM Subject: [PEN-L:25027] Re: Re: Binary scheme of democracy and centralism
> Transactions cost economics -- this will be brief after 6 hours of > classes, 2 hours at the gym -- starts with Ronald Coase, who explains that > firms arise to minimize the cost of negotiating via markets, say by > writing a contract with specific requirements. Robertson refered to firms > as islands of planning. But planning gets unwieldy if the organization > gets too big, so socialism is a no-no. > > Williamson was at Carnegie, where he picked up a great deal from Herbert > Simon about dealing with uncertainty, but then he rejected Simon later. > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail [EMAIL PROTECTED] >
