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The Modern Corporation: Origins Evolution & Attributes Name Institution Professor Course Date Introduction A general agreement is that modern corporation is somewhat complex and very sensitive economic instances There is no yet agreed attributes and the how these attributes are changed to take the current configuration The author agrees that Modern Corporation can be perceived in terms of item series of a given industrial innovation by demonstrating purpose and cause of effects when economizing any transaction costs. Modern Corporation can still be understood in terms of organizational monopoly gains and market prevailing technology in use Modern Corporation study should integrate features such as; factors that determine firm’s integration degree in either forward or backward move and literal respects the economic purpose of widening The foreign direct investment timing between USA and other foreign manufacturing industries Conclusion There is general understanding between economists and non-economist with both agreeing with importance of modern corporation and its complexity in economic terms They is still a non-classical theory that works in conjunction with intermediate theory There is difference in both the economic and non-economic transaction cost approach in modern corporation economy The application of ideas learned in transaction cost holds transaction should be made the unit of analysis should appreciate elementary of human nature recognizing marketing rudimentary principles and making use of guiding principle as comparison of institutional study Reference Oliver Williamson. (2004). the Modern Corporation: Origins Evolution Attributes; Journal of Economic Literature Volume 19 Issue 4 1981 pp. 1537-1568. [...]
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Revisit the article by Oliver Williamson titled: “The Modern Corporation: Origins, Evolution, Attributes,” Journal of Economic Literature, Volume 19, Issue 4, 1981, pp. 1537-1568. Write an outline of the most critical points raised by the author in the article. Your outline should be 2-3 pages. Define carefully any new terms that you will encounter in the article. Provide business and economic examples based on the new terms. Were there any references to “transaction costs” in the chapters of the book that we have covered till now? Answer items (a) through (d) thoroughly and analytically. Also, attach a bibliography to justify your answers to the above.
