The most important statement made by Steven Cheung

回首張五常的所有言論，最重要的或許是他在賣桔者言曾經提到「私有產權容許多種不同的合約安排與選擇，是能使交易費用減少的最主要因素」。這般簡單的一句說話不但概括了史密斯等前輩對制度分析的理念，更將相關理論推上了另一層次–張五常整生的思想精髓已經濃縮在其中！

張五常著 賣桔者言 信報有限公司出版 1984 P. 170

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