The field of ‘economics and organization’ is still young and needs support. I have been a chaired professor much of my academic life and know that such chairs are important for recruiting and retaining faculty. Oliver E. Williamson Read Quote
The organization of the government itself is something which we ought to examine in a more self-conscious way – the Federal Reserve and the Treasury and the Securities and Exchange Commission. The mission that each of them has is mainly economic but should be informed by good organizational practices. Oliver E. Williamson Read Quote
My university teacher and mentor Kenneth Arrow remembers me as a student who asked good questions. Although I had not previously thought of myself in that way, on reflection I think that Arrow was right. Oliver E. Williamson Read Quote
Ronald Coase, in his classic 1937 paper on ‘The Nature of the Firm,’ was the first to bring the concept of transaction costs to bear on the study of firm and market organization. Oliver E. Williamson Read Quote
The presumption that an extant mode is efficient if the expected net gain is negative can nevertheless be rebutted by showing that the obstacles to implementing an otherwise superior feasible alternative are ‘unfair.’ Oliver E. Williamson Read Quote
