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I think that's quite right, theoretically. But I am more curious about the
intellectual history--why the New Institutionalists minimize the obvious
intellectual influence Commons (Institutional Economics, 1934) had on
Barnard (1938), and Barnard (who evidently never heard of Coase) on Simon
(1945, 1947), and seize instead on Coase as the intellectual ground or
putative intellectual father of their work. It's as if they reinvent their
intellectual paternity to suit themselves theoretically (and
politically/doctrinally) once they realize they have a line of their own.
Where would they be if they actually tried to derive their ideas from
Commons? Actually, probably not so bad, since he evidently drew his from
the Old Austrians.
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