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.
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Famous quotes containing the words nature and/or firm:
“For many are the trees of God that grow
In Paradise, and various, yet unknown
To us; in such abundance lies our choice
As leaves a greater store of fruit untouched,
Still hanging incorruptible, till men
Grow up to their provision, and more hands
Help to disburden Nature of her bearth.””
—John Milton (1608–1674)
“What forests of laurel we bring, and the tears of mankind, to those who stood firm against the opinion of their contemporaries!”
—Ralph Waldo Emerson (1803–1882)