The firm in economic theory: a quiet revolution

Article Abstract:

An examination of the existence and relevance of business organizations, relative to the price system in resource allocation, explains the difference between the Neoclassical view and R.H. Coase's theory of business organizations. The Neoclassical theory concentrates on specialization and not on managed coordination, which is the focus of Coase's view. Contemporary theory is more similar to Coase's theory owing to its concern on management-based controls and market-guided incentives.

Research, Business enterprises, Neoclassical economics, Resource allocation

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Institutions and international trade: lessons from the Commercial Revolution

Article Abstract:

The Commercial Revolution of the 1000s to the 1300s reflects the relationship between international trade and institutions. European and Mediterranean trade grew during this time as a result of political and social changes that led to institutional changes. A thorough understanding of the institutions that influence exchange relations and international commerce is required to understand the elements that determine international trade during any time in history.

International trade, Institutional economics

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Slavery and Atlantic commerce, 1650-1800

Article Abstract:

Slavery in Africa played a role in the growth of Atlantic commerce and the division of labor in the period 1650-1800. Research indicates that people of African descent were almost totally responsible for the production of export products in Brazil and in the French, British and Dutch Caribbean colonies. African-Americans produced 50% of the export commodities in the Upper South in the US and 75% of the exports in the Lower South between 1768 and 1772.

Economic aspects, African Americans, Slavery, Atlantic Coast (United States), Atlantic Coast (Brazil)

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