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Knowledge, coordination and the firm: Historical perspectives

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  • Brian Loasby

Abstract

This paper illustrates the problems and processes of developing economic knowledge by a selective historical treatment of ideas about the firm. Coase thought it necessary to explain firms as organizations, but not as distinctive productive units; neither did he explain why markets exist. Chamberlin's attempt to introduce product differentiation and selling costs is compared with Allyn Young's process theory and Marshall's treatment of the firm, and inter-firm relations, as means of organizing the growth of knowledge. The firm is a decision-making system in a context of Knightian uncertainty, and Simon's concept of quasi-decomposability applies to human brains and human organizations.

Suggested Citation

  • Brian Loasby, 2009. "Knowledge, coordination and the firm: Historical perspectives," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(4), pages 539-558.
    • Handle: RePEc:taf:eujhet:v:16:y:2009:i:4:p:539-558
    DOI: 10.1080/09672560903201227
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    References listed on IDEAS

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    1. Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar Publishing, number 2258.
    2. Skinner, Andrew Stewart, 1996. "A System of Social Science: Papers Relating to Adam Smith," OUP Catalogue, Oxford University Press, edition 2, number 9780198233343.
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    Cited by:

    1. Argandoña, Antonio, 2010. "From action theory to the theory of the firm," IESE Research Papers D/855, IESE Business School.
    2. Werner Pascha & Cornelia Storz & Markus Taube, 2011. "Coordination between Inertia and Dynamic Development: An Overview of Issues and Contributions," Chapters, in: Werner Pascha & Cornelia Storz & Markus Taube (ed.), Institutional Variety in East Asia, chapter 1, Edward Elgar Publishing.

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