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Books > Business & Economics > Economics > Economic theory & philosophy
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Organizations, Individualism and Economic Theory (Hardcover)
Loot Price: R4,637
Discovery Miles 46 370
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Organizations, Individualism and Economic Theory (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 19 working days
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Most economic theory is based on the assumption that economies grow
in a linear fashion. Recessions, depressions and (financial) crises
are explained by policy mistakes. However, economic development has
historically been uneven, and this state of affairs continues
today. This book argues that twentieth century economic theory has
marginalized individualism and organizational variety, and puts
forward the case for a pluralist approach. This book represents a
unique synthesis of business theory and economic theory, which
pinpoints the problems with many current mainstream theories and
sets out new agendas for research. Here, Maria Brouwer argues that
market competition is not about adapting to changes from outside,
but is driven by human motivation and goal directed behavior. This
gives managerial skills, which do not traditionally have a
significant place in mainstream economic theory, a key role. It
also highlights the need for organizations that have a motivational
culture and appreciate human capital. This differs from the
traditional view of the firm as a production function dictated by
technology. Brower argues that organizations should be depicted as
voluntary associations of people that pursue goals of their own,
while firms compete on markets, where relative performance
determines their fate. This argument builds on older theories of
innovation and market competition that live on in business school
curricula, and paints a picture of an economy directed by
individuals and firms. This signals a bold departure from standard
economic thinking.
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