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

Picture Quote 1

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

Picture Quote 2

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

Picture Quote 3

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

Picture Quote 4

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