As the transaction cost theory of the firm was taking shape in the 1970s, another important movement in economics was emerging: a revival of the “Austrian” tradition in economic theory associated with such economists as Ludwig von Mises and F. A. Hayek (1973; Dolan, ……………………
Austrian Economics and the Transaction Cost Approach to the Firm
Nimm vom Staat das Recht weg, was bleibt dann als eine große Räuberbande?
— Hl. Augustinus von Hippo (Kirchenlehrer)