The pragmatic thought is, nevertheless, inherent in any sign process. Markets embody sign processes in the pragmatic field.
Winograd and Flores state bluntly "A business (like any other organization) is constituted as a network of recurrent conversations" (Op. cit., p. 168).
Alfred D. Chandler, Jr. (with the assistance of Takashi Hikino)
Scale and Scope. The Dynamics of Industrial Capitalism.
Cambridge MA/London, England: The Belknap Press of Harvard
University Press, 1990.
"…the modern industrial Enterprise…has more than a production function." (p. 14). Chandler further notes that "expanded output by a change in capital-labor ratios is brought about by economies of scale which incorporate economies of speed…. Wholesalers and retailers expand to exploit economies of scale" (p. 21).
James Gordley. The Philosophical Origins of Modern Contract
Doctrine. New York: Oxford University Press, 1991.
Mariadele Manca Masciadri. I Contratti di Baliatico, 2 vols.
Milan: (s.n.), 1984.
John H. Pryor. Business Contracts of Medieval Provence. Selected Notulae from the Cartulary of Girard Amalric of Marseilles, 1248. Toronto: Pontifical Institute of Medieval Studies, 1981.
ECU: In 1979, the process of European unification led to the creation of the European Monetary System (EMS), with its coin being the European Currency Unit (ECU) and the Exchange Rate Mechanism (ERM). As a basket of European currencies, the ECU serves as a reserve currency in Europe and probably beyond. It is not the currency of choice for international transactions, and as of the Maastricht negotiations, which affirmed the need for a Community currency, the ECU was not adopted for this purpose. Although predominant weight in the basket (over 30%) is given to the German mark, the ECU is designed on the assumption that it is quite improbable that a certain currency will move in the same direction against all others. Therefore, exchange rates are statistically stabilized.
Michael Rothschild. Bionomics: Economy as Ecosystem. Webtext, 1990.
Robert L. Heilbroner. The Demand for the Supply Side, in The New
York Review of Books, June 11, 1981, p.40.