A Heterodox Theory of the Business Enterprise
The business enterprise directs and controls the social provisioning process. Enterprise decisions on price, investment, output and employment, in particular, directly affect the material basis of society as well as the material standard of living of working class households. The understanding the structure of and changes in the capitalist capitalists system thus requires a theory of the business enterprise that offers relevant and convincing explanations of business decisions and actions embedded in the wider social context. Such a theory must replace the mainstream-neoclassical theory of the firm, which is not only theoretically incoherent but also practically irrelevant since it confines itself to the hypothetical market structure and individual optimizing behavior. With this rationale this chapter attempts to build a heterodox theory of the business enterprises incorporating contributions made by various theoretical traditions in heterodox economics.
|Date of creation:||23 Jun 2016|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
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.:
- Alchian, Armen A & Demsetz, Harold, 1972.
"Production , Information Costs, and Economic Organization,"
American Economic Review,
American Economic Association, vol. 62(5), pages 777-795, December.
- Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
- Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720, February.
- Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Michal Kalecki, 1937. "A Theory of the Business Cycle," Review of Economic Studies, Oxford University Press, vol. 4(2), pages 77-97.
- Claude Serfati, 2008. "Financial dimensions of transnational corporations, global value chain and technological innovation," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 35-61.
- Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
- Frederic S. Lee, 2010. "A heterodox teaching of neoclassical microeconomic theory," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 1(3), pages 203-235.
- Lee, Frederic S, 1981. "The Oxford Challenge to Marshallian Supply and Demand: The History of the Oxford Economists' Research Group," Oxford Economic Papers, Oxford University Press, vol. 33(3), pages 339-351, November.
- Thomas Dallery, 2009. "Post-Keynesian Theories of the Firm under Financialization," Review of Radical Political Economics, Union for Radical Political Economics, vol. 41(4), pages 492-515, December.
- Harcourt, G C & Kenyon, Peter, 1976. "Pricing and the Investment Decision," Kyklos, Wiley Blackwell, vol. 29(3), pages 449-477.
- Frederic S. Lee & Tae-Hee Jo, 2011. "Social Surplus Approach and Heterodox Economics," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 45(4), pages 857-876, December.
- Lee, Frederic & Jo, Tae-Hee, 2010. "Social surplus approach and heterodox economics," MPRA Paper 27636, University Library of Munich, Germany.
- Means, Gardiner C, 1972. "The Administered-Price Thesis Reconfirmed," American Economic Review, American Economic Association, vol. 62(3), pages 292-306, June.
- Nina Shapiro & Nina Shapiro, 1976. "The Neoclassical Theory of the Firm," Review of Radical Political Economics, Union for Radical Political Economics, vol. 8(4), pages 17-29, December.
- Jenkinson, T & Corbett, J, 1997. "How is Investment Financed? A Study of Germany, Japan, UK and US," Papers 16, American Institute for Contemporary German Studies-.
- Peter B. Meyer, 1986. "The Corporate Person and Social Control: Responding to Deregulation," Review of Radical Political Economics, Union for Radical Political Economics, vol. 18(3), pages 65-84, September.
- Karl Pribram, 1935. "Controlled Competition and the Organization of American Industry," The Quarterly Journal of Economics, Oxford University Press, vol. 49(3), pages 371-393.
- Patrick Spread, 2016. "Companies and markets: economic theories of the firm and a concept of companies as bargaining agencies," Cambridge Journal of Economics, Oxford University Press, vol. 40(3), pages 727-753.
- Fabiani, Silvia & Loupias, Claire & Martins, Fernando & Sabbatini, Roberto (ed.), 2007. "Pricing Decisions in the Euro Area: How Firms Set Prices and Why," OUP Catalogue, Oxford University Press, number 9780195309287.
- Andrew Kliman & Shannon D. Williams, 2015. "Why ‘financialisation’ hasn’t depressed US productive investment," Cambridge Journal of Economics, Oxford University Press, vol. 39(1), pages 67-92.
- Özgür Orhangazi, 2008. "Financialization and the US Economy," Books, Edward Elgar Publishing, number 12927. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:72426. 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: (Joachim Winter)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.