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Voice and economic theory: the Hirschman-Williamson controversy

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  • Pierre COURTIOUX

Abstract

The Hirschman-Williamson controversy deals with the voice's relevancy to economic analysis of organisation. Hirschman (1970) argues that voice is important to recover efficiency. Williamson (1974) downsizes this result, and emphasises importance of hierarchy. This paper shows that Williamson's results are based on the natural selection hypothesis. It shows also how an evolutionary perspective puts the stress on Hirschman normative results.

Suggested Citation

  • Pierre COURTIOUX, 2005. "Voice and economic theory: the Hirschman-Williamson controversy," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 48, pages 147-159.
    • Handle: RePEc:cpo:journl:y:2005:i:48:p:147-159
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    More about this item

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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