Posner considers purposeful organisations. Legal persons are fictitious non-mortal species whose evolution has played a major role in economic development. In what sense can they be said to have a purpose? Thanks to several important mutations, the status of legal persons was transferred from public bodies to business corporations. This evolutionary journey is complementary to the Coasian view, which, moving in the opposite direction, explains the firm as a centralization of market transactions. If the corporation emerged also from a process of decentralization of public attributes, some features of public legal persons, are lacking in its business mutation. Also some ways of motivating people are only available to the original species.

Pagano, U. (2010). Legal Persons: the evolution of a fictitious species. JOURNAL OF INSTITUTIONAL ECONOMICS, 6(1), 117-124 [10.1017/S174413740999021X].

Legal Persons: the evolution of a fictitious species

PAGANO, UGO
2010

Abstract

Posner considers purposeful organisations. Legal persons are fictitious non-mortal species whose evolution has played a major role in economic development. In what sense can they be said to have a purpose? Thanks to several important mutations, the status of legal persons was transferred from public bodies to business corporations. This evolutionary journey is complementary to the Coasian view, which, moving in the opposite direction, explains the firm as a centralization of market transactions. If the corporation emerged also from a process of decentralization of public attributes, some features of public legal persons, are lacking in its business mutation. Also some ways of motivating people are only available to the original species.
Pagano, U. (2010). Legal Persons: the evolution of a fictitious species. JOURNAL OF INSTITUTIONAL ECONOMICS, 6(1), 117-124 [10.1017/S174413740999021X].
File in questo prodotto:
File Dimensione Formato  
legal_persons_the_evolution_of_fictitious_species.pdf

non disponibili

Tipologia: PDF editoriale
Licenza: NON PUBBLICO - Accesso privato/ristretto
Dimensione 73.77 kB
Formato Adobe PDF
73.77 kB Adobe PDF   Visualizza/Apri   Richiedi una copia

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11365/17245
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo