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Professor Bainbridge responds to the economics Nobels and digs out some old reviews of Oliver Williamson’s work, while Alex Tabarrok discusses Williamson and the pin factory and Steven Levitt notes there was a time when the Williamson choice might have been less surprising (at least to him).

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    2 Comments

    1. Martinned says:

      In Adam Smith there is the pin factory and the market and from that beginning we trace the long literature in economics focused on the twin questions, What price to set? How much to produce? Following Coase, Williamson asks different questions, Why a pin factory?

      Nicely put…

      Maybe someone should write a post on Volokh itself, since the two earlier posts about this year’s Nobel seem to have received very little attention. You’d think lawyers would be more interested in the Economics Nobel Prize going to two people who have been thinking all their lives about

      Why is there Law?

      October 12, 2009, 1:24 pm

    2. wulfmankarl says:

      Adam Smith voicing from beyond, shows how to fight the growing Oligarchy. Mediated by Joey Panto.
      http://02e56fa.netsolhost.com/blog1/index.php/2009/10/07/adam-smith-how-we-can-fight-the-oligarch

      October 12, 2009, 6:07 pm