Coasean economics only suggests high transaction costs are sufficient for orgs to exist, rather than necessary. Ie we can and do form orgs for reasons other than lowering tx costs internally, like wanting to be part of a bigger non-e onomic mission.
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Contextual tacit knowledge.
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I believe is is a mistaken notion that *everything* about organizational economics can be explained by lowering transaction costs. Many modern organizations are capable in ways that cannot be done by markets by any cost.
End of conversation
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It’s got to be some parameter describing the employees who can’t make it as free agents. Maybe some form of personal risk tolerance. Or the need to be managed to be productive.
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