Economizing and Strategizing

So, here I go, testing this Weblog system . . .

Oliver Williamson, the great contemporary economist, notes that there has been too much focus on triangles formed by supply-demand curves, i.e. on strategizing, and not enough attention on the larger rectangles, i.e. on economizing. A good place to read about this is in his book of essays on transaction cost economics, Mechanisms of Governance.