Fritz Machlup and Behavioralism
AbstractThis paper is concerned with Fritz Machlup's defense of neoclassical economics against organizational economics and the behavioral theory of the firm. Machlup's objections to organizational economics were narrowly semantic. Properly understood, however, Machlup's methodology has much to offer organizational theory. His position has been mistaken for a form of positivism and as equivalent to Milton Friedman's methodology. In fact, Machlup was a leading methodological subjectivist. Surprisingly, Machlup's version of neoclassical theory is complementary to organizational economics, including behavioralism. Copyright 2000 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Industrial & Corporate Change.
Volume (Year): 9 (2000)
Issue (Month): 4 (December)
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- Nicolai J. Foss & Giampaolo Garzarelli, 2007.
"Institutions as knowledge capital: Ludwig M. Lachmann's interpretative institutionalism,"
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Oxford University Press, vol. 31(5), pages 789-804, September.
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