search query: @author Alchian, A. A. / total: 3
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| Author: | Alchian, A. A. Woodward, S. |
| Title: | The firm is dead: long live the firm : A review of Oliver E. Williamson's The Economic Institutions of Capitalism. |
| Journal: | Journal of Economic Literature
1988 : MAR, VOL. 26:1, p. 65-79 |
| Index terms: | CAPITALISM FIRM (THEORY OF) |
| Language: | eng |
| Abstract: | It is hard to decide whether the title or the content of Williamson's book is more general. Williamson describes only some of capitalism's institutions. But the forces Williamson describes operate in all systems. Regardless, the analysis in this book will enable a broader, more profound understanding of coalitions, institutions and contract structure, including the allocations and participations of property rights, as well as a variety of "institutions" that lack contracts but establish and maintain behavior of a contractual type. The message of Machiavelly is to be reversed: Instead of opportunism, offer and seek credible commitments. |
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