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The Theory of the Firm - An overview of the economic mainstream (Hardcover)
Loot Price: R4,306
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The Theory of the Firm - An overview of the economic mainstream (Hardcover)
Series: Routledge Studies in the History of Economics
Expected to ship within 12 - 17 working days
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Firms are a ubiquitous feature of the economic landscape, with much
of the activity undertaken within an economy taking place within
their boundaries. Given the size of the contribution made by firms
to economic activity, employment and growth, having a theoretical
understanding of the nature and structure of firms is crucial for
understanding how an economy functions. The Theory of the Firm
firstly offers a brief overview of the past, consisting of a
concise discussion of the classical view of production, followed by
an outline of the development of the neoclassical - or 'textbook' -
approach to firm level production. Secondly, the 'present' of the
theory of the firm is discussed in three sections. The first
section considers the post-1970 theory of the firm literature per
se, while the second section scrutinises the relationship between
the three most prominent of the modern sets of theories: the
reference point, property rights and transaction cost approaches.
The third section looks at the theory of privatisation. The unique
aspects of this book includes its discussions of the post-1970
contributions to the theory of the firm; the integration of the
theory of the entrepreneur with the theory of the firm; and the
theory of privatisation. This volume offers an intuitive
introduction to the theories of the firm as well as simple formal
models of the most important contributions to the literature. It
also outlines the historical evolution of the traditional and
modern theories of the firm. This book is of great interest to
those who study history of economic thought, industrial economics
and organizational studies.
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