Summary: How big is too big? Woodblock of a sumo wrestler in Japan. Public Domain Source: Wikipedia 80 years ago the Nobel Prize-winning economist Ronald Coase set out to explain why people organize themselves into businesses, firms, and corporations rather than just freely trade goods and services amongst one another. If Adam Smith’s “invisible hand” is so efficient, why don’t we all organize ourselves independently? The economic answer has to do with efficiency. It’s cheaper to build a […]
