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J. Womack asks how did Coase get in here? 
 
To the extent that property rights are the essence of economic 
institutions, and to the extent that a firm is a manifestation of 
particular institutional arrangements (that is, a firm is a going concern 
defined by particular institutional arrangements that have obtained social 
legitimacy), then Coase (1937) and Coase (1960) easily fits.  And, in this 
context, we should not overlook Commons' LEGAL FOUNDATIONS OF CAPITALISM as 
pertinent to the study of economic institutions which--to many of 
us--comprise the "legal" foundations (a la Wesley Hohfeld) of an economy 
(whether capitalist or otherwise). 
 
Dan Bromley 
 
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