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Markets in the Firm: A Market-Process Approach to Management (Hobart Papers) Paperback – October 1, 1997

ISBN-13: 978-0255364058 ISBN-10: 0255364059 Edition: First Edition

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Product Details

  • Series: Hobart Papers
  • Paperback: 100 pages
  • Publisher: Coronet Books Inc; First Edition edition (October 1997)
  • Language: English
  • ISBN-10: 0255364059
  • ISBN-13: 978-0255364058
  • Product Dimensions: 0.2 x 5.8 x 8.8 inches
  • Shipping Weight: 3.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #4,054,267 in Books (See Top 100 in Books)

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2 of 2 people found the following review helpful By E. Husman on February 11, 2007
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I read this along with Senge's The Fifth Discipline: The Art & Practice of The Learning Organization and Malone's The Future of Work: How the New Order of Business Will Shape Your Organization, Your Management Style and Your Life. The Cowen and Parker book was the most satisfying of the three. For one thing, it summarizes recent economic theorizing about the nature of the firm in a short section. This includes Transaction Cost Analysis, or New Institutional Economics, of which Oliver Williamson's work is the best known. For people interested in it but who don't want to tackle The Economic Institutions of Capitalism, this book is the way to go. They trace the changes in industrial organization from craft production through the Industrial Revolution, Taylorism, and into the modern age. They declare Taylorism to be dead, killed by the intense competition brought by globalism.

The goal of the paper is to introduce the idea that firms are similar to states, Taylorism is analogous to central planning, and modern organizations are starting to look more like a market economy. This was appealing to me in light of something I wrote several months ago. I wrote that Lean production was Hayekian in that it allows people to share information and organizations to learn more quickly.
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