The Economic Nature of the Firm: A Reader - Softcover

9780521556286: The Economic Nature of the Firm: A Reader

Softcover

ISBN 10: 0521556287 ISBN 13: 9780521556286

Publisher: Cambridge University Press, 1996

This book brings together classic writings on the economic nature and organisation of firms, including works by Ronald Coase, Armen Alchian and Harold Demsetz, Michael Jensen and William Meckling, and Oliver Williamson, as well as more recent contributions by Paul Milgrom and John Roberts, Bengt Holmstrom, and Oliver Hart. Part I explores the general theme of the firm's economic nature and its place in the market system; Part II covers the scope of the firm; Part III examines internal organisation and the human factor; and Part IV ties the firm's organisation and behaviour to issues of financing and ownership. It also includes a consolidated bibliography of sources cited by these authors, and a new introductory essay by the editors which surveys the new institutional economics of the firm and issues raised in the anthology. The collection aims to introduce this core literature to advanced undergraduates, business and economics graduate students, and to scholars in allied disciplines including law, sociology, and organisation and management.

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Review:

'Over the years, this classic reader has been a terrific source for those seeking to understand the nature of the firm. The updated material in the new edition will extend this distinguished record.' Bengt Holmstrom, MIT

'For decades, economists focused on the miracle of the market to explain the productive performance of advanced economies. But both the miracles and the problems of modern economies are mostly rooted inside the firms that the system cultivates. The previous editions of the Kroszner-Putterman reader served my students well by exposing them to the deepest economic thinking about the role of the firm. This new edition has some great additions that keep this reader right up to date.' Paul Milgrom, Stanford University

Book Description:

This book brings together selections from the most influential writings on the internal economic organisation of business firms. Part I explores the general theme of the firm's economic nature and its place in the market system; Part II covers the scope of the firm; Part III examines internal organisation and the human factor; and Part IV ties the firm's organisation and behavior to issues of financing and ownership.

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