Capitalist Economic System: On Corporate Contracts and Market Contracts: On Corporate Contracts and Market Contracts

Author: Williamson
Publisher:
Publish Date: 2002-06-01
Features: The transaction cost economics discussed in this book is a component of new institutional economics that once again draws people's attention. The emergence of transaction cost economics stems from significant discoveries in law, economics, and organization theory in the 1930s. However, to make it a discipline is neither hasty nor easy, just like realizing any good idea. For historians concerned with modern institutional evolution, this book is one of the most important works written by economists after Joseph Schumpeter. "Williamson's" research is broader than ever before. His methodology has a unique power in understanding complex issues such as contractual relationships, vertical integration, labor unions, and antitrust laws. This work is profoundly impressive and a must-read for all students genuinely interested in law, economics, and organization theory. The Capitalist Economic System synthesizes the substantial work of Oliver Williamson and other scholars on related topics, offering extensive and in-depth discussions on the theory and examples of new institutional economics. New institutional economics is changing our perspectives on many issues in law, economics, and organization theory.