>Why is it that companies with fixed payrolls, buildings, etc., exist? In a fully marketized world, we would contract, daily, with providers for all services, i

>Why is it that companies with fixed payrolls, buildings, etc., exist? In a fully marketized world, we would contract, daily, with providers for all services, including day-to-day secretarial services, copying services, coding, document and report production, research, everything. I don't find that compelling at all. There's no reason to think pricing needs to be done daily, or that cost can't be aggregated. You could only consider this the "supersession of the price mechanism" if you believe your time has no value.