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- Title
Spreading the Word: Transaction Cost Economics in the Conversation of Economics.
- Authors
PESSALI, HUASCAR; FERNÁNDEZ, RAMÓN
- Abstract
Transaction cost economics is a key topic in many conversations in business and economics related disciplines, much as a result of Oliver Williamson's intellectual crusade. By claiming a 'distinct worldview,' he develops arguments of association and differentiation to established worldviews, like traditional microeconomics, earlier institutionalism, Austrian and radical economics, and also within the new institutional economics itself, in order to advance his theory. His resourcefulness defies straight argumentative decisions, catering to different audiences whilst trying to break new ground. Surely Williamson has not pleased everyone, but his discourse is greatly responsible for placing TCE in the everyday parlance of economics.
- Subjects
TRANSACTION costs; ECONOMICS; BUSINESS &; economics; WILLIAMSON, Oliver E., 1932-; MICROECONOMICS; RADICAL economics; INSTITUTIONAL economics
- Publication
American Journal of Economics & Sociology, 2012, Vol 71, Issue 2, p229
- ISSN
0002-9246
- Publication type
Article
- DOI
10.1111/j.1536-7150.2012.00834.x