“The transaction cost approach maintains that some projects are easy to...” — Oliver E. Williamson Quote

“The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate.”

“The lens of contract focuses predominantly on gains from trade whereas orthodoxy is focused on resource allocation.”

“Vertical intergration is an organizational response to the contracting difficulties that attend intermediate product markets where trades that are supported by transaction-specific assets are exposed to hazard.”

“There can be no rise in the value of labour without a fall of profits.”

“When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker.”

“I don't really enjoy finance and accounting.”