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Organizations and Markets

Publication: ResearchWorking paper

Austrian economics focuses on markets, but has much to say about organizations. In particular, Austrian insights on the structure of production, the heterogeneity and subjectivity of resources, the nature of uncertainty, the role of monetary calculation, and the function of the entrepreneur provide solid foundations for a distinctly Austrian theory of organizations. We review these insights, discuss recent literature on Austrian economics and the theory of the firm, and suggest new directions for developing and extending an Austrian approach to organizations.

Publication information

Original languageEnglish
Place of PublicationFrederiksberg
PublisherDjøf / Jurist- og Økonomforbundet
Number of pages38
ISBN (print)9788791815904
DOIs
StatePublished - Apr 2013
SeriesSMG Working Paper
Number8
Volume2013

    Keywords

  • Theory of Firm, Firm Boundaries, Entrepreneurship, Subjectivism

ID: 38456430