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The Corporation as Anomaly - David E. Schrader

The Corporation as Anomaly

Hardcover Published: 29th January 1993
ISBN: 9780521412414
Number Of Pages: 218

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The marginalist theory of the corporation or firm, whose characteristics were formally developed in the 1930s, represents a major change in the development of traditional economic theory. In this book, Professor Schrader, a philosopher of economics, discusses the rise of the marginalist conception of the firm in the context of economic thought over the past two centuries, and explains why economists continue to defend a theory with demonstrable shortcomings: the marginalist view of the firm retains its support not through any comparative advantage in empirical or predictive power, but by virtue of its being a part of the predominant marginalist economic program. The clear problems that beset the marginalist approach to the firm signal a general dilemma for economic theory as a whole. Although economists generally remain committed to both a methodological individualism and a preference for non-intentional coordination of economic endeavor, Schrader observes that the modern corporation by its very nature is both a social collective and a locus of intentional coordination of economic activity. An economic theory that does justice to a world in which managerial corporations are among the key agents of production and distribution must generate a theory of collective action to bolster the theory of individual action that forms the present basis for most economic thinking.

The hidden change in economic theory
Four views of scientific change
A glance at the history of economic theory
Agreement and disagreement within the tradition
Theories of the firm
Confusions and problems with the marginalist view
The shape of the large managerial corporation
The theoretical impact of a better theory of the firm
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521412414
ISBN-10: 0521412412
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 218
Published: 29th January 1993
Country of Publication: GB
Dimensions (cm): 23.67 x 16.03  x 2.08
Weight (kg): 0.43