The Neoclassical Theory of the Firm
- 1 December 1976
- journal article
- research article
- Published by SAGE Publications in Review of Radical Political Economics
- Vol. 8 (4) , 17-29
- https://doi.org/10.1177/048661347600800403
Abstract
The focus of this essay is the treatment of the firm in neoclassical economics and, in particular, the possibility of such a treatment. Its critical result is the impossibility of introducing the firm into neoclassical thought and thus the necessity of transcending the confines of this thought for the construction of a theory of the firm. The last section of this essay turns to the Marxian tradition for a concept of the firm. The outlines of a Marxian treatment of the firm are pre sented as well as the key differences between this treatment and that of neoclas sical economics.Keywords
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