The Nature Of The Firm
'The Nature of the Firm' (1937), is an influential article by Ronald Coase. It offered an economic explanation of why individuals choose to form partnerships, companies and other business entities rather than trading bilaterally through contracts on a market.
Read more about The Nature Of The Firm: Summary
Famous quotes containing the words nature and/or firm:
“For true poetry, complete poetry, consists in the harmony of contraries. Hence, it is time to say aloud—and it is here above all that exceptions prove the rule—that everything that exists in nature exists in art.”
—Victor Hugo (1802–1885)
“A book is like a man—clever and dull, brave and cowardly, beautiful and ugly. For every flowering thought there will be a page like a wet and mangy mongrel, and for every looping flight a tap on the wing and a reminder that wax cannot hold the feathers firm too near the sun.”
—John Steinbeck (1902–1968)