Revolutionizing the Understanding of Capitalism: Commons vs. Williamson on Transactions
The article compares two different views on transactions in social sciences. Commons saw transactions as a way to understand capitalism as a whole, while Williamson focused on the simple exchange of goods and services. Williamson's approach limited the scope of the concept, adjusting it to fit within neoclassical economics. The study shows how the concept of transactions evolved differently in the works of these two authors.