{"id":3096,"date":"2008-05-27T17:00:38","date_gmt":"2008-05-27T17:00:38","guid":{"rendered":"http:\/\/bob.ryskamp.org\/psst\/?p=2804"},"modified":"2008-05-27T17:00:38","modified_gmt":"2008-05-27T17:00:38","slug":"2804","status":"publish","type":"post","link":"https:\/\/bob.ryskamp.org\/brain\/2804\/","title":{"rendered":""},"content":{"rendered":"<p>&#8220;If markets were costless to use, firms would not exist. Instead, people would make arm&#8217;s-length transactions. But because markets are costly to use, the most efficient production process often takes place in a firm.&#8221; &#8211; <a title=\"Ronald H. Coase, Biography: The Concise Encyclopedia of Economics: Library of Economics and Liberty\" href=\"http:\/\/www.econlib.org\/library\/Enc\/bios\/Coase.html\">Ronald H. Coase, Biography<\/a>. So as markets become less costly to use, do firms disappear?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;If markets were costless to use, firms would not exist. Instead, people would make arm&#8217;s-length transactions. But because markets are costly to use, the most efficient production process often takes place in a firm.&#8221; &#8211; Ronald H. Coase, Biography. So as markets become less costly to use, do firms disappear?<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[359],"tags":[],"class_list":["post-3096","post","type-post","status-publish","format-standard","hentry","category-psst"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/s9wjHJ-2804","_links":{"self":[{"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/posts\/3096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/comments?post=3096"}],"version-history":[{"count":0,"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/posts\/3096\/revisions"}],"wp:attachment":[{"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/media?parent=3096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/categories?post=3096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bob.ryskamp.org\/brain\/wp-json\/wp\/v2\/tags?post=3096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}