A Brief Prehistory of the Theory of the Firm

A Brief Prehistory of the Firm

Paul Walker

ISBN: 978-1138488267

The theory of the firm did not exist, in any serious manner, until around 1970. Only then did the current theory of the firm literature begin to emerge, based largely upon the work of Ronald Coase and to a lesser degree Frank Knight. This accessible book provides a valuable overview of the ‘prehistory’ -- pre-1970 -- of the firm. Spanning an impressive timeline, it delves into Antiquity, the Medieval era, the pre-classical economics period and the 19th and 20th centuries. Next, the book traces the theoretical contributions from pre-classical, classical and neo-classical economics.