Austrians, Neoclassicals, and the Firm

Oliver WilliamsonThis 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.

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.