Foundations of Organisational Economics Histories and Theories of the Firm and Production
Foundations of Organisational Economics: Histories and Theories of the Firm and Production delves into a range of key topics to do with the history of the mainstream approach to the theory of production and the theory of the firm. The first topic explored is the change from a normative approach to a largely positive approach to the analysis of the theory of production. The next topic is an examination of the relationship between the division of labour and the theory of the ﬁrm. In the fourth chapter, the focus is on the development of the proto-neoclassical approach to production. Chapter 5 looks at Marshall’s idea of the representative firm, which was the main early neoclassical approach to the theory of industry-level production. The penultimate chapter considers the criticisms made of the neoclassical model between 1940 and 1970.