What’s the best way to keep productivity high?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Nature Of The Firm and Work Markets – AVC

In The Nature Of The Firm, Coase investigates why “individuals choose to form partnerships, companies and other business entities rather than trading bilaterally through contracts on a market.” Coase argues that transaction costs that make “trading bilaterally through contracts” expensive spur the organization of firms. And if those transaction costs could be eliminated, more individuals would choose to trade with each other rather than forming p… (read more)