“Just as the Internet drops transaction and collaboration costs in business and government, it also drops the cost of dissent, of rebellion, and even insurrection.”

— Don Tapscott

Don Tapscott, in: M.I. Seka Life Lessons of Wisdom & Motivation - Volume III: Insightful, Enlightened and Inspirational quotations and proverbs http://books.google.co.in/books?id=K2DzAgAAQBAJ&pg=PA67, Providential Press, 28 February 2014, p. 67

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Don Tapscott 4

Canadian businessman 1947

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“The question always is, will it pay to bring an extra exchange transaction under the organizing authority? At the margin, the costs of organizing within the firm will be equal either to the costs of organizing in another firm or to the costs involved in leaving the transaction to be “organised” by the price mechanism. Business men will be constantly experimenting, controlling more or less, and in this way equilibrium will be maintained. This gives the position of equilibrium for static analysis.”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 404

“The fundamental idea of transaction costs is that they consist of the cost of arranging a contract ex ante and monitoring and enforcing it ex post, as opposed to production costs, which are the costs of executing a contract.”

R. C. O. Matthews (1927–2010) British economist

Source: "The Economics of Institutions and the Sources of Growth." 1986, p. 904; as cited in Eggertsson (1990; 14)

“It must be the duty of the next Labour Government in power to make an immediate challenge to the capitalist system and take the banks and the land into the custody of the people. The time had come to drop all hesitancy and to be bold. If they returned a Socialist Government next time, it was going to "do things," whatever it cost.”

Stafford Cripps (1889–1952) British politician

Speech in Canning Town (26 June 1935), quoted in The Times (28 June 1935), p. 13.

“Transaction costs were used in the one case to show that if they are not included in the analysis, the firm has no purpose, while in the other I showed, as I thought, that if transaction costs were not introduced into the analysis, for the range of problems considered, the law had no purpose.”

Ronald H. Coase The Nature of the Firm

Ronald H. Coase (1988). "The Nature of the Firm: Influence." Journal of Law, Economics, and Organization 4 (No. 1, Spring): 33—47. p. 34; as cited in Eggertsson (1990; xiii)
1960s-1980s

“Harold, the young kids out there are not going to be willing to go to the barricades in defense of lowered transaction costs.”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

A Cost/Benefit Analysis of the Human Spirit : The Luddites Revisited (15 March 2003) http://www.lewrockwell.com/shaffer/shaffer39.html.

“The limit to the size of the firm is set where its costs of organizing a transaction become equal to the cost of carrying it out through the market. This determines what the firm buys, produces, and sells. As the concept of transaction costs is not usually used by economists, it is not surprising that an approach which incorporates it will find some difficulty in getting itself accepted. We can best understand this attitude if we consider not the firm but the market.”

Ronald H. Coase (1910–2013) British economist and author

1960s-1980s, "The Firm, the Market, and the Law" (1988)

“Life is a business that does not cover the costs.”

Arthur Schopenhauer book The World as Will and Representation

Vol II "On the Vanity and Suffering of Life"
The World as Will and Representation (1819; 1844; 1859)

“To summarize, the production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.”

Max Boisot (1943–2011) British academic and educator

Variant: To summarize, the production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.
Source: Knowledge Assets, 1998, p. 235

“We ourselves feel that what we are doing is just a drop in the ocean. But if the drop was not in the ocean, I think the ocean would be less because of the missing drop.”

Matka Tereza (1910–1997) Roman Catholic saint of Albanian origin

As quoted http://www.awakin.org/read/view.php?tid=189 in Mother Teresa's Reaching Out In Love - Stories told by Mother Teresa http://books.google.de/books?hl=de&id=tdyw409qGgQC&q=ocean#search_anchor, Compiled and Edited by Edward Le Joly and Jaya Chaliha, Barnes & Noble, 2002, p. 122
2000s

“I will not spend the money for myself. I will rather spend it in special business on a no-profit-no-loss policy. We will also establish an eye hospital where even beggars will be given treatment at the cost of Taka 10-20.”

Muhammad Yunus (1940) Bangladeshi banker, economist and Nobel Peace Prize recipient

The Daily Star (14 October 2006)

“Just as the Internet drops transaction and collaboration costs in business and government, it also drops the cost of dissent, of rebellion, and even insurrection.”

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