• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Beyond Make-or-Buy: Advances in Transaction Cost Economics
Beyond make-or-buy: Advances in transaction cost economics

Thinking about problems of economic organization from a transaction cost economics point of view takes concerted effort. Once, however, a threshold of understanding is reached, the world of organization is “spontaneously” reordered. Applications abound. … The worldview of new students who get caught up in transaction cost reasoning is irreversibly altered.

Oliver E.Williamson (1985, p. x)

Although Ronald Coase is often credited with inspiring a line of economic inquiry that came to be known as transaction cost economics, it is the work of Oliver Williamson, which appeared some 40 years later, that laid the foundation and provided the theoretical apparatus that has allowed scholars in this field to make headway on fundamental problems in ...

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