Austrians, Neoclassicals, and the Firm
This week the Mises Circle will be taking a look at Peter Klein’s Mises Daily article on the work of Nobel Prize winning neo-institutionalist economist Oliver Williamson.
While not an Austrian, Williamson provides intriguing perspectives on the nature of the firm.
Gleb will be giving a short presentation from the neoclassical perspective before our discussion.
Link: http://mises.org/daily/
For extra credit, you can read Williamson’s classic paper, “Transaction Cost Economics: The Natural Progression”, which was also the topic of his Nobel Prize lecture.
Link: http://mx.nthu.edu.tw/~cshwang/teaching-economics/econ5005/Short-papers/Williamson=Transaction%20Cost%20Economics%20The%20Natural%20Progression.pdf
Link: http://mx.nthu.edu.tw/
