Coase said, more or less, that companies perform tasks internally if it is cheaper than contracting third parties to do so. This calculation explains where markets stop and companies begin.

• 科斯指出,大体上说,如果内部完成任务比承包给第三方便宜,企业就会选择内部完成。这一计算方式说明,市场的终点乃是企业的起点。