We are preparing for you a program of screening applications to help you grow your business.
Opening 01/06/2019
Douglas North theorizes that all transaction costs are rooted in information asymmetries between the parties to an exchange. Hence, each person must expend resources ascertaining the qualities of the good she is buying and enforcing the terms of the trade.
Because these costs pose such a large barrier to economic growth, a central function of political and economic institutions is control them, often by disincentivizing fraud, theft, and other socially detrimental behaviors. Yet those who command the political system will structure these institutions to maximize their personal benefit, rather than the social benefit, so transaction costs will not always be minimized by existing institutions.
Based on the principles of Douglas North and Adam Smith, we have built a mechanism to help small businesses so that they do not go in the direction of globalization.
We are well aware that small business can bring much more benefits to society.
They are right, sure!
