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Is It Time To Createa New Theoryof the Firm? Discussion

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  • David T. Scheffman

Abstract

In this comment on James Emshoff's (1993) paper,1 I will begin by briefly summarizing the paper. Then I will give my reaction to the issues raised in the paper from the perspective of an economist and professor of business strategy. As I discuss later, it is the work of Alfred Chandler, Jr., rather than work of economists, that is most relevant to the issues raised by Emshoff. In my view economists must understand the limitations of standard economic approaches to organizational issues in order to begin to make progress on issues raised by Chandler and Emshoff.

Suggested Citation

  • David T. Scheffman, 1993. "Is It Time To Createa New Theoryof the Firm? Discussion," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 2(1), pages 15-22, March.
  • Handle: RePEc:bla:jemstr:v:2:y:1993:i:1:p:15-22
    DOI: 10.1111/j.1430-9134.1993.00015.x
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    1. Emshoff, James R, 1993. "Is It Time to Create a New Theory of the Firm?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 2(1), pages 3-14, Spring.
    2. Daniel F. Spulber, 1992. "Economic Analysis And Management Strategy: A Survey," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(3), pages 535-574, September.
    3. Alfred D. Chandler, 1992. "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 79-100, Summer.
    4. Teece, David J, 1993. "The Dynamics of Industrial Capitalism: Perspectives on Alfred Chandler's Scale and Scope," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 199-225, March.
    5. James R. Emshoff, 1993. "Is It Time To Createa New Theoryofthe Firm?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 2(1), pages 3-14, March.
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    Cited by:

    1. Myong‐Hun Chang, 1998. "Product Switching Cost and Strategic Flexibility," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 7(3), pages 461-488, September.

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