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February 03, 2009

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gordonrae.openid.co.uk

The traditional theory of the firm posits that firms exist because hierarchies have lower costs than markets (see Ronald Coase 1937)

Supply chain management, then e-commerce predicted that networks would have lower costs than hierarchies. Open source takes it further: (see Yochai Benkler Coase's Penguin, or Linux and the Nature of the Firm )

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