This is a fantastic piece of economic reasoning applied to a not-flagged-as-economics puzzle! As the post says, a lot of its content is floating out there on the internet somewhere: the draw here is putting all those scattered insights together under their common theory of the firm and transaction costs framework. In doing so, it explicitly hooked up two parts of my world model that had previously remained separate, because they weren’t obviously connected.
This is a fantastic piece of economic reasoning applied to a not-flagged-as-economics puzzle! As the post says, a lot of its content is floating out there on the internet somewhere: the draw here is putting all those scattered insights together under their common theory of the firm and transaction costs framework. In doing so, it explicitly hooked up two parts of my world model that had previously remained separate, because they weren’t obviously connected.
As I have now written in a below comment, see my 2016 Ribbonfarm post about this.