Economic organization and the Theory of the Firm Slides: The purpose of this course is to explore the relation between the principles of economic organization and theory of the firm. The course focuses on 1) Analysis of economic transactions, Property rights in a framework of incomplete contracts, 3) Evolutionary theories and the principles of economic organization. 4) Technology and property rights 5) The complex governance of the firm 6) The hybrid thing-person nature of the corporation 7) Financialization, intangibles and the privatization of knowledge Presentation topics 1) The influenza network works independently of patents. Kapczynski, A. (2017) Open Science in Influenza. Cornell Law Review. pp. 1539-1648 Boyle, J. 2003. https://scholarship.law.cornell.edu/clr/vol102/iss6/3/ 2) The public domain may be depleted by knowledge privatization. The second enclosure movement and the construction of the public domain, Law and Contemporary Problems, vol. 66, 33–74. https://scholarship.law.duke.edu/lcp/vol66/iss1/2/ 3) Taylorism characterizes only one form of capitalism. Pagano U. (1991) Property Rights, Asset Specificity, and the Division of Labour under Alternative Capitalist Relations. Cambridge Journal of Economics, Vol. 15 No 3, pp. 315-342. 4) Capitalism has been characterized by a working knowledge struggle Catherine L. Fisk Working Knowledge: Employee Innovation and the Rise of Corporate Intellectual Property, 1800-1930 https://www.jstor.org/stable/10.5149/9780807899069_fisk 5) The Corporation is not a Thing. Iwai K. (1999) Persons, Things and Corporations: The Corporate Personality Controversy and Comparative Corporate Governance. The American Journal of Comparative Law, Vol. 47, No. 4 (Autumn, 1999), pp. 583-632 Iwai (2014) The Foundation for a Unified Theory of Fiduciary Relationships: ‘One May Not Make a Contract with Oneself’. SSRN. Com https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2424098 6) Corporate Finance and corporate governance are interrelated. Williamson (1988) O. Corporate Finance and Corporate Governance Journal of Finance at https://www.jstor.org/stable/2328184 7) Digital Monopolies Reference at: https://www.dropbox.com/s/7fp1bigv81lal4k/Cecilia%20Rikap%2C%20Capitalism%20As%20Usual%20%2C%20NLR%20139%2C%20January%20February%202023.pdf?dl=0 8) Has Italy a particular variety of capitalism? Reference in Italian at: https://www.dropbox.com/s/55snx1pmfvt8xit/3%20Pagano%20Grandi%20Imprese%20e%20Declino%20Italiano%20%281%29.pdf?dl=0 9) After the Covid Pandemic, a WTO reform is necessary. https://www.socialeurope.eu/not-only-a-vaccine-waiver-wto-reform-is-urgent Social Europe 10) Open Science can have positive effects on economic development and disarmament. https://www.socialeurope.eu/military-secrets-and-the-world-trade-organization. Social Europe 11) Is the American Model of Capitalism an exception? https://digitalcommons.law.seattleu.edu/sulr/vol35/iss4/12/ Background Readings Pagano U. (2012) No Institution is a free lunch: a reconstruction of Ronald Coase. International Review of Economics, V. 59 N. 2 pp. 189-200. 2) Pagano U. (1992) Authority, Co-ordination and Disequilibrium: an Explanation of the Co-existence of Markets and Firms. Economic Dynamics and Structural Change.. Vol. 3, No 1 pp 53-77. Reprinted in G M.. Hodgson (1993) The Economics of Institutions Edward Elgar, Cheltenham. 3) Hart O. (1995) Firms Contracts and Financial Structure. Clarendon Press, Oxford. (Revelant parts included in the slides) 4) Pagano U. (2020) Why Only Humans and Social Insects have a division of Labour. Cambridge Journal of Economics. V. 44 pp. 1-15. 5) Pagano U., Rossi M. A. (2004) Incomplete Contracts, Intellectual Property and Institutional Complementarities. European Journal of Law and Economics (V. 18 n 1, 2004 pp. 55 -76) 6) Pagano U. (2010) Marrying in the Cathedral: a framewore for the aanalysis of Corporate Governamce. In Pacces A. M. The Law and Economics of Corporate Governance. Edward Elgar, Cheltenham U. K. pp. 264-289 Pagano U. (2018) Legal Persons, Economic Things and the Hybrid Business Corporation. Pagano U. (2014) The Crisis of Intellectual Monopoly Capitalism. Cambridge Journal of Economics. Vol 38 pp. 1409-1429. Pagano U. (2022) https://www.socialeurope.eu/not-only-a-vaccine-waiver-wto-reform-is-urgent Social Europe Pagano U (2023) https://www.socialeurope.eu/military-secrets-and-the-world-trade-organization. Social Europe.

Economic organization and the Theory of the Firm

The purpose of this course is to explore the relation between the principles of economic organization and theory of the firm. The course focuses on

1) Analysis of economic transactions,

2)Property rights in a framework of incomplete contracts,

3) Evolutionary theories and the principles of economic organization.

4) Technology and property rights

5) The complex governance of the firm

6) The hybrid thing-person nature of the corporation

7) Financialization, intangibles and the privatization of knowledge

Presentation topics

1) The influenza network works independently of patents.

Kapczynski, A. (2017)

Open Science in Influenza. Cornell Law Review. pp. 1539-1648 Boyle, J. 2003.

https://scholarship.law.cornell.edu/clr/vol102/iss6/3/

2) The public domain may be depleted by knowledge privatization.

The second enclosure movement and the construction of the public domain, Law and Contemporary Problems, vol. 66, 33–74. https://scholarship.law.duke.edu/lcp/vol66/iss1/2/

3) Taylorism characterizes only one form of capitalism.

Pagano U. (1991) Property Rights, Asset Specificity, and the Division of Labour under Alternative Capitalist Relations. Cambridge Journal of Economics, Vol. 15 No 3, pp. 315-342.

4) Capitalism has been characterized by a working knowledge struggle

Catherine L. Fisk Working Knowledge: Employee Innovation and the Rise of Corporate Intellectual Property, 1800-1930 https://www.jstor.org/stable/10.5149/9780807899069_fisk

5) The Corporation is not a Thing.

Iwai K. (1999) Persons, Things and Corporations: The Corporate Personality Controversy and Comparative Corporate Governance. The American Journal of Comparative Law, Vol. 47, No. 4 (Autumn, 1999), pp. 583-632

Iwai (2014) The Foundation for a Unified Theory of Fiduciary Relationships: ‘One May Not Make a Contract with Oneself’. SSRN. Com https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2424098

6) Corporate Finance and corporate governance are interrelated.

Williamson (1988) O. Corporate Finance and Corporate Governance Journal of Finance at https://www.jstor.org/stable/2328184

7) Digital Monopolies

Reference at: https://www.dropbox.com/s/7fp1bigv81lal4k/Cecilia%20Rikap%2C%20Capitalism%20As%20Usual%20%2C%20NLR%20139%2C%20January%20February%202023.pdf?dl=0

8) Has Italy a particular variety of capitalism?

Reference in Italian at:

https://www.dropbox.com/s/55snx1pmfvt8xit/3%20Pagano%20Grandi%20Imprese%20e%20Declino%20Italiano%20%281%29.pdf?dl=0

9) After the Covid Pandemic, a WTO reform is necessary.

https://www.socialeurope.eu/not-only-a-vaccine-waiver-wto-reform-is-urgent Social Europe

10) Open Science can have positive effects on economic development and disarmament.

https://www.socialeurope.eu/military-secrets-and-the-world-trade-organization. Social Europe

11) Is the American Model of Capitalism an exception?

https://digitalcommons.law.seattleu.edu/sulr/vol35/iss4/12/

Background Readings

1)Pagano U. (2012) No Institution is a free lunch: a reconstruction of Ronald Coase. International Review of Economics, V. 59 N. 2 pp. 189-200.

2) Pagano U. (1992) Authority, Co-ordination and Disequilibrium: an Explanation of the Co-existence of Markets and Firms. Economic Dynamics and Structural Change.. Vol. 3, No 1 pp 53-77. Reprinted in G M.. Hodgson (1993) The Economics of Institutions Edward Elgar, Cheltenham.

3) Hart O. (1995) Firms Contracts and Financial Structure. Clarendon Press, Oxford. (Revelant parts included in the slides)

4) Pagano U. (2020) Why Only Humans and Social Insects have a division of Labour. Cambridge Journal of Economics. V. 44 pp. 1-15.

5) Pagano U., Rossi M. A. (2004) Incomplete Contracts, Intellectual Property and Institutional Complementarities. European Journal of Law and Economics (V. 18 n 1, 2004 pp. 55 -76)

6) Pagano U. (2010) Marrying in the Cathedral: a framewore for the aanalysis of Corporate Governamce . In Pacces A. M. The Law and Economics of Corporate Governance. Edward Elgar, Cheltenham U. K. pp. 264-289

7)Pagano U. (2018) Legal Persons, Economic Things and the Hybrid Business Corporation.

8)Pagano U. (2014) The Crisis of Intellectual Monopoly Capitalism. Cambridge Journal of Economics. Vol 38 pp. 1409-1429.

9) Pagano U. (2022) https://www.socialeurope.eu/not-only-a-vaccine-waiver-wto-reform-is-urgent Social Europe

10)Pagano U (2023) https://www.socialeurope.eu/military-secrets-and-the-world-trade-organization. Social Europe.