Quotessence
Home / Quotes / Quote by Oliver E. Williamson

Quote by Oliver E. Williamson

“The study of economic organization commonly proceeds as though market and administrative modes of organization were disjunct. Market organi­zation is the province of economists. Inter­nal organization is the concern of organization theory specialist. And never the twain shall meet.”

Quote by Oliver E. Williamson

Author

Oliver E. Williamson
Oliver E. Williamson

Oliver E. Williamson is a renowned economist known for his contributions to transaction cost economics and organizational theory. Born on September 27, 1932, he has had a profound impact on the field of economics. more

You May Also Like

“It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.”