Weber saw this law as having developed in parallel with the expansion of capitalism. Other notable early legal sociologists included Hugo Sinzheimer, Theodor Geiger, Georges Gurvitch and Leon Petrażycki in Europe, and William Graham Sumner in the us The most outstanding financial analyst of law is 1991 Nobel Prize winner Ronald Coase, whose first main article, The Nature of the Firm , argued that the rationale Law for the existence of firms (companies, partnerships, and so forth.) is the existence of transaction costs. Rational people trade through bilateral contracts on open markets till the prices of transactions imply that using corporations to produce things is less expensive.
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- While this global well being disaster continues to evolve, it can