Oliver Hart: Hon Doc at CBS — and O&M Reader

21 March 2009 at 12:35 pm 3 comments

| Nicolai Foss |

Every year in April the Copenhagen Business School confers honorary doctorates to prominent management theorists, finance scholars, economists, sociologists, etc. Oliver Williamson, James March, and Jay Barney have all received honorary doctorates. This year’s honorary doctors included no less than six scholars, of which one should be familiar to O&M readers, namely Professor Oliver Hart of Harvard University (Hart’s Harvard site is currently down — too many hits? ;-)). Hart is, of course, one of the authors of the seminal 1986 paper, “The Costs and Benefits of Ownership,” and the author of numerous other papers that build on this paper. His property-rights approach to the theory of the firm (really, the theory of the boundaries of the firm) is the dominant approach in economics.

Although I have met Hart on previous occasions, I didn’t expect him to recognize me. However, not only did he recognize me, he also greeted me with “You blog a lot!!” (I confess I didn’t disclose that it is Peter who blogs a lot ;-)). It turned out that Hart was well aware of O&M and apparently also likes it!

Entry filed under: - Foss -, Theory of the Firm.

Another Attack on Outrageous Bonuses Dutch Treat

3 Comments Add your own

  • 1. Steve  |  21 March 2009 at 6:09 pm

    I’m pretty sure there was a planned power outage in the Economics building where the web server is.

  • 2. David Hoopes  |  21 March 2009 at 10:58 pm


  • 3. raivo pommer  |  22 March 2009 at 1:15 pm

    Raivo Pommer

    Deutschlands Banken Milljardhilf

    Der Bundestag hat am Freitag mit großer Mehrheit ein Gesetz beschlossen, das zur ersten Verstaatlichung einer Bank in Westdeutschland seit dem Zweiten Weltkrieg führen dürfte. Es ist speziell zugeschnitten auf die Verstaatlichung der schwer angeschlagenen Immobilienbank Hypo Real Estate (HRE) in München. Würde die Bank kollabieren, drohte dem gesamten Finanzsystem in Deutschland ein unüberschaubarer Schaden.

    FDP und Linkspartei stimmten im Bundestag gegen das Gesetz. “Heute ist ein Tag der Unfreiheit. Heute wird ein Tabu gebrochen, der Schutz des privaten Eigentums wird torpediert”, sagte Rainer Brüderle, der stellvertretende Vorsitzende der FDP-Bundestagsfraktion. Der rheinland-pfälzische Ministerpräsident Kurt Beck (SPD) indes begrüßte den Beschluss: “Diese Bank hat eine Dominofunktion, sie darf nicht wegkippen. Ob es zur Enteignung kommt, wird sich zeigen. Wenn der Steuerzahler mit zig Milliarden hilft, muss es möglich sein, dieses Instrument einzusetzen”, sagte Beck dem Abendblatt

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Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
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Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
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