Operating by John Brewton

Operating by John Brewton

The Man Who Invented Companies:

Ronald Coase and the Origins of Operating

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John Brewton
Jul 18, 2025
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He didn’t build a company. He didn’t scale a startup. He didn’t even run a team.

But in 1937, a 27-year-old economist named Ronald Coase gave the world something more enduring: the reason companies exist.

He wrote one essay, “The Nature of the Firm,” that changed ho…

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