The Contested Sovereignty of the Firm
This paper suggests that the firm can be analysed as a regulated system of contested sovereignty. The economic literature on the firm is categorised in terms of four different perspectives on sovereignty identified using the twin factors of power and authority. But rather than any single perspective being identified as analytically superior, it is argued that a system of contested sovereignty should be based on all four perspectives. Following this, a Polanyi-inspired analysis of firm regulation is presented in which the regulation of the firm emerges to control the costs of free markets. However, this regulation depicts firm sovereignty as complex and contested rather than simply an optimal response to market failures.
Volume (Year): 14 (2002)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CRPE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CRPE20|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dow, Gregory K., 1987. "The function of authority in transaction cost economics," Journal of Economic Behavior & Organization, Elsevier, vol. 8(1), pages 13-38, March.
- Jean Tirole, 1988. "The Multicontract Organization," Canadian Journal of Economics, Canadian Economics Association, vol. 21(3), pages 459-66, August.
- Armen A. Alchian & Harold Demsetz, 1971.
"Production, Information Costs and Economic Organizations,"
UCLA Economics Working Papers
10A, UCLA Department of Economics.
- Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December.
- Earl, Peter E, 1990.
"Economics and Psychology: A Survey,"
Royal Economic Society, vol. 100(402), pages 718-55, September.
- Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
- Fitzroy, Felix R & Kraft, Kornelius, 1987. "Efficiency and Internal Organization: Works Councils in West German Firms," Economica, London School of Economics and Political Science, vol. 54(216), pages 493-504, November.
- Michael Dietrich, 1993. "Total Quality Control, Just-in-Time Management, and the Economics of the Firm," Journal of Economic Studies, Emerald Group Publishing, vol. 20(6), pages 17-31, October.
When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:14:y:2002:i:2:p:193-209. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.