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For a decade after the passage of the Second New Deal, political leaders and many important interest groups fiercely debated what procedural requirements, if any, should be imposed on the new regulatory agencies. This debate led eventually to the passage of the Administrative Procedures Act (APA)...
This article explores the economic role of the firm in a market economy. The analysis begins with a discussion and critique of the property rights approach to the theory of the firm as exposited in the recent work by Hart and Moore ('Property Rights and the Nature of the Firm'). It is argued that...