subject: Marcos articulate he did not agree with this conclusion [print this page] The market mechanism to work, why is there a Enterprise Coase found that in the real world market mechanisms are not free, the transaction fee is positive; the "enterprise" Organization, it is precisely because of savings in transaction costs. Enterprises to savings on transaction costs, is because in the enterprise, market transaction is canceled, in the enterprise of the other Swiss Watches factors of production, it is not necessary to enter into a contract of sale, the original series for signing and implementation costs of those market contracts, they are saving. Therefore, Marcos said that "the outstanding characteristics of the enterprise as the price mechanism alternatives coase, 1937, Tess of the urbervilles. However, the enterprise is not to a non-market contracts instead of market pricing mechanism, as Marcos, in-house "command" and "allow an authority an entrepreneur to dominate the resources, "a series of compact is a compact alternative to the results. Through contracts, production elements in order to obtain certain rewards agree to a certain extent to obey the command of the entrepreneur, the essence of the contract is that it limits the scope of the rights of entrepreneurs. Only a limited range, for him to command and other factors of production coase, 1937 and 6 pages. This means that Marcos and the enterprise as a Replica Watches institutions substitute market contract. On the contrary, the enterprise is a market contract substitution in a series of market contract. This contract, I will call it below market Enterprise contract of all factors of production and its owner agree to make, by its very nature is to define the authority of the origin and the entrepreneur. In other words, the entrepreneur in the enterprise's authority, command and plans, and more all this free market suddenly seems to be anti-deals, itself from another class market contracts--contract of enterprise in the market grants and qualified. This is different from the Imperial entrepreneurs authoritative authority, the authority and the SERF the primary authority of central planning. Concluded that the enterprise to a market of Enterprise contract replaces the market pricing mechanism.
Marcos did not focus on answering the question is, if the enterprise is a contract with a class of market replaces another market contract, these two types of market contract what?-Chang (Chueng, 1983) noted that the contract, which occurred in factor markets; whereas the price mechanism, a series of the contract is the product on the market. Therefore, the enterprise is to factor market trading contracts instead of the product on the market. Analyse of the exposition, is considered to be the one of the important contribution. See Fake Watches. However, when I read about the enterprise is a factor in the market or group transactions of thought, 1937 papers clearly expressed. In the above table, Marcos has talked about, "production factor or its owners, the "between a series of contract is a contract to replace "isn't that Marcos has put the enterprise as an element of a contract on the market, in fact at this point, analyse and Marcos no different.
Analyse really different from Marcos, is he considered elements of contracts on the market enterprises, and products on the market, and there is nothing special. Market trading time intervals, and transaction cost is not zero and the transaction process of risks and uncertainties such as, in the product market and factor markets. Therefore, these two types of contracts in the extent and the distinction between specific arrangements, and insufficient to put the enterprise organization and market mechanism. Analyse the real question is this: If you are into a department store and bought a pair of socks, you'll be as you store belong to the Rolex Watches same enterprise, then why don't you hire a worker or an engineer, you and the workers or agents be regarded as constituting a business?, in his view, buy socks contract workers employed with entrepreneurs or the purchase of raw material market contract is a contract, there are two. Analyse the resulting conclusions are: the essence of the contract due to the enterprise, enabling us to do not know what Enterprise and Coase's discussions on this issue.
Marcos articulate he did not agree with this conclusion, he considered that, in addition to the elements and the enterprise is a contract between the owner, there are other special in itself. In fact, in 1937, papers, Marcos had already wrote: "due to difficulties in forecasting, the goods or services the supply of the contractual maturities, the less likely, and thus are more reluctant buyer expressly provides that a request to do something. All the statements in the contract is the requirement that the provider supplies a range of goods and services and requires providers of details in the contract are not addressed by the purchaser. When the flow of Tiffany Jewelry resources the contractual scope to become this way depends on the buyer, I call it the Enterprise that kind of relationship would pop up. Here, Coase argues that because the elements are combined into the Enterprise contract period is usually very long, because this process of risk and uncertainty, the inconvenience to or cannot elements in the contracting parties before all the rights and obligations of all provisions clearly. Therefore, on stage, the enterprise features of the contract, the contractual statement of the elements in the scope of supply, and how to complete the details of such a supply as a purchaser entrepreneurs in the Agency after the exercise of powers. In other words, the rights and obligations under a contract of enterprise is not completely defined beforehand terms, elements of the buyer shall be entitled to additional provisions in contracts of a particular contract.
Marcos articulate he did not agree with this conclusion
