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Other notable early authorized sociologists included Hugo Sinzheimer, Theodor Geiger, Georges Gurvitch and Leon Petrażycki in Europe, and William Graham Sumner in the us The most distinguished financial analyst of law is 1991 Nobel Prize winner Ronald Coase, whose first major article, The Nature of the Firm , argued that the reason for the existence of companies (companies, partnerships, etc.) is the existence of transaction costs. Rational people commerce through bilateral contracts on open markets until the costs of transactions mean that using companies …
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