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Business Organization and the Myth of the Market Economy - William Lazonick

Business Organization and the Myth of the Market Economy

Paperback Published: 25th October 1993
ISBN: 9780521447881
Number Of Pages: 392

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This book explains the changes in industrial leadership from Britain to the United States earlier in this century and from the United States to Japan more recently, in terms of the changing business investment strategies and organizational structures in these nations. The author criticizes economists for failing to understand these historical changes. The book shows that this intellectual failure is not inherent in the discipline of economics; there are important traditions in economic thought that the mainstream of the economics profession has simply ignored.

'Lazonick successfully marries economic theory to the history of technology and business organization ... He then applies this blend of insights to contemporary issues of economic growth in Japan and relative decline in Britain and America. The result is a controversial but richly informative analysis - almost an intellectual hand grenade tossed into contemporary discussions. It is hard to think of another scholar who could match the combination of boldness, graceful writing, and intellectual challenge.' Thomas McCraw, Harvard University

Acknowledgments
Introduction: the wealth of three nations
Economic Institutions and Economic Performance
Business organization and competitive advantage
Institutional foundations of industrial dominance and decline
Organizations and markets in capitalist development
Intellectual Foundations and Intellectual Constraints
The theory and history of capitalist development
The making of the market mentality
'The Marvels of the Market' Versus 'The Visible Hand'
The innovative business organization and transaction cost theory
Lending the economic institutions of capitalism a visible hand
Overcoming Intellectual Constraints
Business organization and economic theory
Rigor and relevance in economics
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521447881
ISBN-10: 0521447887
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 392
Published: 25th October 1993
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 22.63 x 15.14  x 1.91
Weight (kg): 0.52