"The sad reality is that the people do pay attention to economists and their models. Although it’s true that the tools used by economists to analyze business firms are too abstract and speculative to offer any useful guidance to entrepreneurs and managers, this doesn’t prevent them being used, with devastating negative effect in the real world."Depois, Steve Denning pega na argumentação de Krugman e desmonta-a com números.
Por fim, remata com este final tão querido a este blogue:
"Ironically, the deeper cause of these problems may lie with the economic work of Coase himself, whose writings form the basis of the current economic theory of the firm. Firms exist, Coase wrote, because they reduce transaction costs. This theory won Coase the Nobel Prize in economics. It has contributed to the continuing focus in business on cost-cutting and efficiency, while short-changing the ever more pressing need today to add value for customers. Far from being irrelevant to business, as Coase argues in HBR, economic theories play a key role in creating the intellectual foundation for it.
What we need now is a new economic theory of the firm that includes an appropriate emphasis on adding value for customers, not just on efficiency and cutting costs. If Professor Krugman were to turn his attention to that, with some serious economic analysis, instead of merely berating corporations as “bandits”, he could well deserve a second Nobel Prize."