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.
|Place of Publication||Frederiksberg|
|Publisher||Institut for Strategic Management and Globalization|
|Number of pages||38|
|Publication status||Published - Apr 2013|
|Series||SMG Working Paper|
- Theory of the firm
- Firm boundaries