The contributions of the neoinstitutionalist school are recognized today like one of the more important in the economic field; this due that include a range of aspects that are fundamental in the taking of decisions of the companies called Transaction Costs in their economic analysis of the market. The paradoxical thing is that this “great discovery” it had already been exposed before one century by Karl Marx in the Second book of The Capital, Critic of the Political Economy. Marx’s contribution about the Costs of Circulation it is enormous, because it defines, it classifies and it proposes solutions to this expense in a rigorous and novel way, even leading to the current proposals. The strange thing is that this theoretical proposal has not been recognized by none of the economists that work in the topic.
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Paper provided by Universidad de Antioquia, Departamento de Economía in its series Grupo de Microeconomía Aplicada with number
040.
Find related papers by JEL classification: B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
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