Harold Demsetz Quote

Business firms, in which controlled cooperation takes place, are the first important implication of costly transactions. The laissez-faire filtering process, using the profit test, selects some of these business organizations for survival and rejects others.


p. 25 - Economic, Political, and Legal Dimensions of Competition. 1980


Business firms, in which controlled cooperation takes place, are the first important implication of costly transactions. The laissez-faire filtering...

Business firms, in which controlled cooperation takes place, are the first important implication of costly transactions. The laissez-faire filtering...

Business firms, in which controlled cooperation takes place, are the first important implication of costly transactions. The laissez-faire filtering...

Business firms, in which controlled cooperation takes place, are the first important implication of costly transactions. The laissez-faire filtering...