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Those Lumps Matter

I feel bad for anyone who ventures into the social sciences.  Society is, after all, a devilishly complex subject.  Pull on any one string and you can convince yourself that you have understood it only to realize the next day that you missed the entire story.  It’s a maze: enter at your own risk. Of […]

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Corporations Cont’d

The key to understanding corporations is to separate the economics from everything else.  We need to do this because the economics, as expressed in various theories of the firm, are usually entirely idealized and bear no resemblance to reality.  Economists, as usual, love to theorize about things that don’t exist but which they wished did […]

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