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Organization and Transaction Costs

Currently I am in an RSO called Illinois Synchro Skating. We are a Synchronized skating team that practices at the UIUC ice rink. Even though we are a skating team there still is a sort of Organizational structure to our RSO. We have a president and vice president that oversee the important matters of our RSO and we have a executive board that includes our treasurer and secretary that meet with the president and vice president once a week to go over problems that might come up  that need to be solved. Although I am still pretty new so I am not exactly sure who does what I know that the executive board has to coordinate practice times with the rinks and rent out room at the Armory and Arc for our off ice practices and workouts. They also need to coordinate travel expenses when we go out to competitions and figure out where we will stay and what we will eat during our travels. My guess is they all work together to figure out all the details, like someone will find the hotels and the...
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A Teams Success

In the article by Bolman and Deal it talked greatly about the important aspects that make teams succeed and work well together. My personal experience with a semi-successful team has to do with my synchronized skating team. I will go through the what works well in our teams’ structure and what doesn’t work as well. One quote that really spoke to me was that in the seal teams if one individual makes any infractions the whole team gets punished. In a sense my synchro team has this sort of mindset since if one person isn’t synchronized with everyone else, we will lose points during competitions which would punish everyone since we all get the same score and we either win together or lose together. This incentivizes everyone to work hard to get better at staying in sync and to skate more gracefully so that we don’t let each other down. In the reading it talked about how well organized small groups have the ability to produce results that often elude the grasp of lar...
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Robert Heilbroner Econ 490 Fall 2019

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Robert Louis Heilbroner He was born in 1919 and he claims that his liberal economic views were based on what he had learned from his families chauffeur who was like a father to him. He served in WWII and got his doctorate from the New School for Social Research in New York City after the war.  He achieved his fame after writing his first book called The Worldly Philosophers,   which was publicized in 1953. Afterwards he wrote many other titles which included, The Quest for Wealth, The Future as History and The Making of Economic Society,  and many more books. According to the New York Times he was regarded by mainstream economists as a popularizer who made no real contributions to the field of economics while he thought that those economists were to reliant on their mathematics and modeling which made them forget what the purpose of economics was -- to help improve the wellbeing of society.
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