In his 1937 paper “The Nature of the Firm,” Coase identified three types of costs in the economy: the costs of search (finding all the right information, people, resources to create something); coordination (getting all these people to work together efficiently); and contracting (negotiating the costs for labor and materials for every activity in production, keeping trade secrets, and policing and enforcing these agreements). He posited that a firm would expand until the cost of performing a transaction inside the firm exceeded the cost of performing the transaction outside the firm.
“Blockchain revolution by Tapscott”
Monthly Archives: June 2016
Marx…
“Marx believed that in all phases of history there has been a conflict between two dominant classes of society. In antiquity’s slave society, the conflict was between free citizen and slave. In the feudal society of the Middle Ages, it was between feudal lord and serf; later on, between aristocrat and citizen. But in Marx’s own time, in what he called a bourgeois or capitalist society, the conflict was first and foremost between the capitalists and the workers, or the proletariat. So the conflict stood between those who own the means of production and those who do not. And since the ‘upper classes’ do not voluntarily relinquish their power, change can only come about through revolution.”
Sophie’s world
One!
“Spinoza said that it was our passions—such as ambition and lust—which prevent us from achieving true happiness and harmony, but that if we recognize that everything happens from necessity, we can achieve an intuitive understanding of nature as a whole. We can come to realize with crystal clarity that everything is related, even that everything is One. The goal is to comprehend everything that exists in an all-embracing perception. Only then will we achieve true happiness and contentment. This was what Spinoza called seeing everything ‘sub specie aeternitatis.’” Sophie’s world
History..
Late Antiquity was generally characterized by religious doubts, cultural dissolution, and pessimism. It was said that “the world has grown old.”
Reality vs shadows!
Plato believed similarly that all natural phenomena are merely shadows of the eternal forms or ideas. But most people are content with a life among shadows. They give no thought to what is casting the shadows. They think shadows are all there are, never realizing even that they are, in fact, shadows. And thus they pay no heed to the immortality of their own soul. Sophie’s world
Hippocrates
The road to health for everyone is through moderation, harmony, and a “sound mind in a sound body.”
Who and why?
“Being interested in why we are here is not a “casual” interest like collecting stamps. People who ask such questions are taking part in a debate that has gone on as long as man has lived on this planet. How the universe, the earth, and life came into being is a bigger and more important question than who won the most gold medals in the last Olympics.”
Sophie’s world
Philosophy
He who cannot draw on three thousand years is living from hand to mouth – Goethe
First blog!
This is my first blog..after thinking to start for a while..plan to share my interests, thoughts and readings
Muhammad Ali Chaudhry 