"In recent years economists and historians have increasingly turned their attention to modern economic institutions. Economists such as Edward S. Mason, A. D. H. Kaplan, John Kenneth Galbraith, Oliver E. Williamson, William J. Baumol, Robin L. Marris, Edith T. Penrose, Robert T. Averitt, and R. Joseph Monsen, following the pioneering work of Adolph A. Berle, Jr., and Gardiner C. Means, have studied the operations and actions of modern business enterprise. They have not attempted, however, to examine its historical development, nor has their work yet had a major impact on economic theory. The firm remains essentially a unit of production, and the theory of the firm a theory of production."
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Nobel laureates from the United StatesEconomists from the United StatesPeople from WisconsinNobel laureates in EconomicsUniversity of Pennsylvania faculty
Original Language: English
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Alfred D. Chandler, Jr. The Visible Hand (1977) p. 5.
https://en.wikiquote.org/wiki/Oliver_E._Williamson
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Oliver E. Williamson
Oliver E. Williamson (September 27, 1932 – May 21, 2020) was an American economist, professor at the University of California, Berkeley and recipient of the 2009 Nobel Memorial Prize in Economic Sciences.
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