Macroeconomic theory assumes that factors of production in the economy are homogeneous and fungible. As a result, it may be ill-suited for developing policy responses to the recent financial crisis. Theories of strategic management and organization,with their emphasis on heterogeneously distributed resources and capabilities,may be better positioned.Examples of where macroeconomic theory may lead policies astray, and where theories of strategic management may be more appropriate, are provided.
|Place of Publication||Frederiksberg|
|Publisher||Center for Strategic Management and Globalization|
|Number of pages||24|
|Publication status||Published - 2009|
|Series||SMG Working Paper|