Per Bylund recently published “Signifying Williamson’s Contribution to the Transaction Cost Approach: An Agent-Based Simulation of Coasean Transaction Costs and Specialization” in the Journal of Management Studies. Bylund writes: “It is a simulation test of Coase’s transaction cost approach using agent-based modeling, and what I do is basically show that transaction costs have no explanatory power – but specialization and the division of labor does.”  

When I posted noting that students were entitled to resist the ridiculously bad choices being made by administrators for commencement speeches, the response, even from Mises Institute readers, was that students who don’t fall in line and obey school administrators are “brats” who don’t appreciate the wonderful gift they are being given by tenured government employees. By extension, of course, those same [people must approce of the mandatary discussions about one’s secual identity -   http://www.thefire.org/please-report-to-your-resident-assistant-to-discus