The limit to the size of the firm is set where its costs of organizing a transaction become equal to the cost of carrying it out through the market. This determines what the firm buys, produces, and sells. As the concept of transaction costs is not usually used by economists, it is not surprising that an approach which incorporates it will find some difficulty in getting itself accepted. We can best understand this attitude if we consider not the firm but the market.
Ronald CoaseRelated topics
approach attitude best carrying concept cost difficulty equal find firm getting limit market organizing set size surprising transaction costsRelated quotes
Unable to create a meaningful life for itself, the personality takes its own revenge from the lower depths comes a regressive form of spontaneity raw animality forms a counterpoise to the meaningless stimuli and the vicarious life to which the ordinary man is conditioned. Getting spiritual nourishment from this chaos of events, sensations, and devious interpretations is the equivalent of trying to pick through a garbage pile for food.
Lewis Mumford
But those rare souls whose spirit gets magically into the hearts of men, leave behind them something more real and warmly personal than bodily presence, an ineffable and eternal thing. It is everlasting life touching us as something more than a vague, recondite concept. The sound of a great name dies like an echo the splendor of fame fades into nothing but the grace of a fine spirit pervades the places through which it has passed, like the haunting loveliness of mignonette.
James Thurber
Let no one out of laziness or continuous worldly occupations miss these holy Sunday gatherings, which God Himself handed down to us, lest he be justly abandoned by God... If you are detained and do not attend on one occasion, make up for it the next time, bringing yourself to Christ's Church. Otherwise you may remain uncured, suffering from unbelief in your soul because of deeds or words, and failing to approach Christ's surgery to receive... holy healing.
Gregory Palamas
The Indian religious traditions... accepted the concept of non-being on an equal footing with that of being. Like many other Eastern religions, the Indian culture regarded Nothing as a state from which one might have come and to which one might return.. Where Western religious traditions sought to flee from nothingness... a state of non-being was something to be actively sought by Buddhist and Hindus in order to achieve Nirvana: oneness with the Cosmos.
John D. Barrow
Some of the beliefs and legends bequethed to us by Antquity are so universally and firmly established that we have become accustomed to consider them as being almost as ancient as humanity itself. Nevertheless we are tempted to inquire how far the fact that some of these beliefs and legends have so many features in common is due to chance, and wether the similarity between them may not point to the exestience of an ancient, totally unknown and unsuspected civilization of which all other traces have disappeared.
Frederick Soddy
