Business strategy, economic crisis and the theory of the firm

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Abstract

    Business organisation and strategy has permitted the introduction of a range of more heterodox theories linking economic history and business history. Coase’s ‘Theory of the Firm’ and Williamson’s ‘Transaction Cost Analysis’ broaden into an approach which identifies imperfect competition from within a traditional and familiar neo-classical framework. When placed within a business history context, and utilising contrasting debates over the managerial revolution and explanations of relative economic decline, business strategy begins to be open to more complex explanations for economic transitions and crisis. This complexity permits both a wider set of theories of crisis and a wider political economy, including post-Keynesian theories of market regulation and industrial policy and Marx’s ‘Tendency of the Rate of Profit to Fall’ to be developed.
    Original languageEnglish
    Title of host publicationPost-Crash Economics
    Subtitle of host publicationPlurality and Heterodox Ideas in Teaching and Research
    EditorsOmar Feraboli, Carlo J. Morelli
    Place of PublicationSwitzerland
    Pages47-67
    Number of pages21
    ISBN (Electronic)9783319658551
    DOIs
    Publication statusPublished - 20 Dec 2017

    Fingerprint

    economic crisis
    business history
    firm
    economic history
    industrial policy
    transaction costs
    economics
    political economy
    profit
    regulation
    Business strategy
    Theory of the firm
    Economic crisis
    Business history
    market
    Post Keynesian theory
    Transaction cost analysis
    Market regulation
    Business organization
    Economic history

    Cite this

    Morelli, C. J. (2017). Business strategy, economic crisis and the theory of the firm. In O. Feraboli, & C. J. Morelli (Eds.), Post-Crash Economics: Plurality and Heterodox Ideas in Teaching and Research (pp. 47-67). Switzerland. https://doi.org/10.1007/978-3-319-65855-1_3
    Morelli, Carlo J. / Business strategy, economic crisis and the theory of the firm. Post-Crash Economics: Plurality and Heterodox Ideas in Teaching and Research. editor / Omar Feraboli ; Carlo J. Morelli. Switzerland, 2017. pp. 47-67
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    Morelli, CJ 2017, Business strategy, economic crisis and the theory of the firm. in O Feraboli & CJ Morelli (eds), Post-Crash Economics: Plurality and Heterodox Ideas in Teaching and Research. Switzerland, pp. 47-67. https://doi.org/10.1007/978-3-319-65855-1_3

    Business strategy, economic crisis and the theory of the firm. / Morelli, Carlo J.

    Post-Crash Economics: Plurality and Heterodox Ideas in Teaching and Research. ed. / Omar Feraboli; Carlo J. Morelli. Switzerland, 2017. p. 47-67.

    Research output: Chapter in Book/Report/Conference proceedingChapter

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    Morelli CJ. Business strategy, economic crisis and the theory of the firm. In Feraboli O, Morelli CJ, editors, Post-Crash Economics: Plurality and Heterodox Ideas in Teaching and Research. Switzerland. 2017. p. 47-67 https://doi.org/10.1007/978-3-319-65855-1_3