Tag: transaction-costs

All the articles with the tag "transaction-costs".

• The Protocol Layer: Watching the Theory Play Out in Real Time

  Published: 3 Apr, 2026 |  at  11:00 AM

  Google's developer guide to AI agent protocols is framed as a tutorial. Read it through a Coasean lens and it's something more interesting — live evidence that the transaction costs making firms necessary are being eliminated, layer by layer, in the open.

• The Firm in 2026

  Published: 17 Mar, 2026 |  at  10:00 AM

  Returning to Coase's original question — why do firms exist? — with fifteen posts of new machinery. The answer has not changed. The composition of the costs has.

• Why Corporations Exist: A Coasean Foundation

  Published: 14 Feb, 2026 |  at  10:00 AM

  Corporations did not emerge by accident. They are coordination machines. In 2026, as transaction costs fall, we revisit why they exist — and what might be changing.