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Title: Business Organization and the Myth of the Market Economy by William Lazonick ISBN: 0-521-44788-7 Publisher: Cambridge University Press Pub. Date: 28 May, 1993 Format: Paperback Volumes: 1 List Price(USD): $25.00 |
Average Customer Rating: 5 (1 review)
Rating: 5
Summary: Corporate Capitalism as a non-market process
Comment: Picking up where he left off in "Competitive Advantage on the Shop Floor", Lazonick deepens his critique of capitalism's self-representation in neoclassical economic theory. Combining the insights of Schumpeter, Marshall and Marx, he convincingly argues that the emergence of large corporations actually displace "free market" "mechanisms" of resource allocation, radically changes the manner in which the pricing of commodities occurs, and transforms the balance of power between workers and the owners of enterprises. Central to his analysis is the various ways in which organizational complexity and planning within large firms leads to an undemocratic politics of knowledge creation and diffusion that determines the division of the firm's revenue into wages and profits. In the process of narrating the emergence of corporate capitalism, Lazonick elaborates on how large enterprises become locked into economies of speed that exacerbate "labor-management" tensions that, in turn, sap firm's abilities to innovate in the face of international competition. When societies fall prey to these problems, economic stagnation and class conflict result and those with the power within corporations use that power to grab a larger share of a revenue-pie that is either growing at a much slower rate or shrinking. For Lazonick, capitalism is a non-equilibrium process that is always political, generative of uncertainty and an "inequality [that] has undermined the incentives for those who participate in the business organization's specialized division of labor to make the long-term commitment's of their skills and efforts that the innovation process requires." Like "Competitive Advantage on the Shop Floor", this one is a must read; and at a fraction of the cost.
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Title: The Economic Intstitutions of Capitalism by Oliver E. Williamson ISBN: 068486374X Publisher: Free Press Pub. Date: 01 October, 1998 List Price(USD): $21.00 |
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Title: Institutions, Institutional Change and Economic Performance by Douglass C. North, Randall Calvert, Thrainn Eggertsson ISBN: 0521397340 Publisher: Cambridge University Press Pub. Date: 26 October, 1990 List Price(USD): $16.00 |
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Title: As Time Goes by: From the Industrial Revolutions to the Information Revolution by Chris Freeman, Francisco Louca ISBN: 0199251053 Publisher: Oxford Press Pub. Date: May, 2002 List Price(USD): $34.50 |
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Title: The Control Revolution: Technological and Economic Origins of the Information Society by James R. Beniger ISBN: 0674169867 Publisher: Harvard Univ Pr Pub. Date: March, 1989 List Price(USD): $28.50 |
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Title: Harnessing Complexity: Organizational Implications of a Scientific Frontier by Robert Axelrod, Michael D. Cohen ISBN: 0465005500 Publisher: Basic Books Pub. Date: 01 August, 2001 List Price(USD): $16.00 |
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