----------------- HES POSTING ----------------- 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. ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]