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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Replying to @vgr
High transaction costs are a wonderful barrier to all kinds of mischief that we don’t now suffer cause it ain’t worth it
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Replying to @vgr
“Never knock down a fence until you know why it was put up”
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Replying to @zenpundit
I see your Chesterton Fence and I raise you a Gordian Knot
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