The Problem of Production: A new theory of the firm (Hardback) book cover

The Problem of Production

A new theory of the firm

By Per L. Bylund

© 2016 – Routledge

186 pages

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About the Book

The theory of the firm has been fertile ground for economists. Bylund proposes a new theory, rooted in Austrian economics, which examines the firm as a part of the market, and not as a free-standing entity. In this integrated view, a theory is offered which incorporates entrepreneurship, production, market process and economic development.

Reviews

"The author succeeds in spotlighting the economic function provided by the firm—in place of the traditional view of starting with the conception of a firm —by first looking at the market and its limitations to production. Consequentially, this theory development adds an interesting twist to the attempts to understand the existence of firms."

- Erik Markin and Vishal Gupta, Organization Management Journal

Table of Contents

Introduction 1. What We Know and What We Don’t Know about the Firm 2. The Extent of the Market Process 3. The ‘Specialisation Deadlock’ 4. Entrepreneurship and Integration 5. Authority and Hierarchy 6. The Volatile Character of the Firm 7. Financing, Ownership and Boundaries of the Firm 8 The Firm as a Market Institution 9 The Nature of the Market Process 10 Policy Implications 11 What the Future Holds

About the Author

Per L. Bylund is Records-Johnston Professor of Free Enterprise and Assistant Professor of Entrepreneurship, School of Entrepreneurship, Oklahoma State University, USA.

About the Series

Routledge Advances in Heterodox Economics

Over the past two decades, the intellectual agendas of heterodox economists have taken a decidedly pluralist turn.  Leading thinkers have begun to move beyond the established paradigms of Austrian, feminist, Institutional-evolutionary, Marxian, Post Keynesian, radical, social, and Sraffian economics—opening up new lines of analysis, criticism, and dialogue among dissenting schools of thought.  This cross-fertilization of ideas is creating a new generation of scholarship in which novel combinations of heterodox ideas are being brought to bear on important contemporary and historical problems.

Routledge Advances in Heterodox Economics aims to promote this new scholarship by publishing innovative books in heterodox economic theory, policy, philosophy, intellectual history, institutional history, and pedagogy.  Syntheses or critical engagement of two or more heterodox traditions are especially encouraged.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS023000
BUSINESS & ECONOMICS / Economic History
BUS069030
BUSINESS & ECONOMICS / Economics / Theory