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16b.+Getting+A+Job - Social Networks Markets = informed...

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Social Networks
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Markets = informed, rational individuals involved in the free exchange of goods, services, and/or capital, resulting in economic efficiency. Coase’s Question* : If markets are so superior, so efficient… …then why don’t corporations use them internally? *Ronald Coase, "The Nature of the Firm" (1937)
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Markets = informed, rational individuals involved in the free exchange of goods, services, & capital, resulting in economic efficiency Hierarchies = organizations of asymmetrical power, centralized, command-and-control…reduce transaction costs
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Markets = informed, rational individuals involved in the free exchange of goods, services, & capital, resulting in economic efficiency Hierarchies = organizations of asymmetrical power, centralized, command-and-control…reduce transaction costs Networks = social structure made up of nodes (generally individuals or organizations) that are tied by one or more specific types of relations
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Mark Granovetter
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● Focused on male PTM workers (professional, technical,
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