Holdups and History: The General Motors-Fisher Body Merger Revisited
| Autor | F.E. Guerra-Pujol |
| Cargo | Associate Professor, Barry University, Dwayne O. Andreas School of Law |
| Páginas | 21-34 |
HOLDUPS AND HIS TORY:
THE GENERAL MOTOR S-FISHER BODY MERGER REVISI TED
F.E. GUERRA-PUJOL*
I. Fisher Body and General Motors: Conflict o r Cooperation? ............................................................... 21
II. The Reciprocal Nature of Contractual Relations and Contractual Disputes .............................. 23
III. The Problem of Historical Observation (o r, What Is a Fact?) ......................................................... 27
IV. Coase’s Theory-driven Critique of Theory-driv en Economics........................................................ 31
V. Conclusion ............................................................................................................................................................... 33
The question is commonly thought of as
one in which A inflicts harm on B and what
has to be decided is: how should we
restrain A? But this is wrong. We are
dealing with a problem of a reciprocal
nature.1
The past is, by definition, a datum which
nothing in the future will change. But the
knowledge of the past is something
progressive which is constantly
transforming and perfecting itself.2
Chosen examples are never serious
evidence for any worthwhile
generalization.3
I. FISHER BODY AND GENERAL MOTORS: CONFLICT OR COOPERATION?
In a recent paper,4 Ronald Coase revisits the storied events leading up
to General Motors’ acquisition of Fisher Body in 1926, the so-called classic
example of opportunistic behavior by contracting parties due to the presence
* Associate Professor, Barry University, Dwayne O. Andreas School of Law.
1 Ronald H. Coase, The Problem of Social Cost, 3 J.L. & ECON. 1, 2 (1960) [hereinafter Coase
(1960)].
2 MARC BLOCH, THE HISTORIAN’S CRAFT 58 (Peter Putnam trans., Vintage Books 1953).
3 RICHARD DAWKINS, THE SELFISH GENE 6 (2d ed.1989).
4 Ronald H. Coase, The Conduct of Eco nomics: The Example of Fisher Body and General
Motors, 15 J. ECON. MAN. 255 (2006) [hereinafter Coase (2006)].
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