Why Bosses Don't Wear Bunny Slippers: TAITC

The Answer Is Transaction Costs

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Ever wondered why firms exist in a market-driven economy? This month's episode promises to unravel this question by diving deep into Ronald Coase's seminal 1937 paper, "The Nature of the Firm." Join me, Mike Munger, as I reflect on our first 16 months of podcasting and share the insights and wisdom that have shaped our journey. You'll gain a thorough understanding of how transaction costs influence economic behaviors and organizational structures, with fascinating examples from Richard Langlois' analysis of the American Midwest's agricultural sector before the railroad era.

• Ronald Harry Coase, The Nature of the Firm (1937)
• Michael Munger, Why Bosses Don't Wear Bunny Slippers

If you have questions or comments, or want to suggest a future topic, email the show at [e-mail] !

You can follow Mike Munger on Twitter at @mungowitz

Chapitres

1. Why Bosses Don't Wear Bunny Slippers: TAITC (00:00:00)

2. Transaction Costs in Economic Theory (00:00:01)

3. Economic Efficiency and Transaction Costs (00:12:35)