The Emergence and Size of Firms According to Coase (1937)
Ronald H. Coase’s groundbreaking 1937 paper, “The Nature of the Firm,” provides an in-depth explanation for the emergence and size of firms – providing a significant departure from previous economic theories that were unsatisfactory in this respect. Coase introduces transaction costs as an essential concept in understanding why firms emerge — to minimize transaction costs ... Read More
Pages: 6 Words: 1607