Schumpeter: Why do firms exist? The Secret of the Black box

To celebrate the fact that Ronald Coase, the author of  « The Nature of The Firm (1937) turns 100 on December 29th, several articles about The Firm are published. Indeed, For philosophers the great existential question is: “Why is there something rather than nothing?” For management theorists the more mundane equivalent is: “Why do firms exist? Why isn’t everything done by the market?” To know the answer, read this exellent paper published by The Economist on…Schumpeter: Why do firms exist?.

, , , ,