Panglossian Economics

Tag: Panglossian Economics

“in this, the most efficient of all possible worlds”

Following this past weekend’s performance of Candide on campus (with our own Alex Gmeinder in the leading role), I was reminded of this sight gag in a set of slides by Professor Richard Langlois of the University of Connecticut.

For those of you not in Economics 450, that’s recent Nobel Prize winner, Oliver Williamson, pictured delivering a lecture.  Professor Langlois appears to be chiding him about the rather strong efficiency implications of transaction cost economics.

You can read the full explanation at the Organizations & Markets blog.