Oliver E. Williamson

Teaching can be learning, especially if student curiosity with the question 'What's going on here?' can be elicited.

My first jobs after graduation in 1955 were as a project engineer for G.E. and later with the U.S. government in Washington, D.C., where I met and married my wife, Dolores Celini.

The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate.