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Firms, strategies and economic change; explorations in Austrian economics.


Firms, strategies and economic change; explorations in Austrian economics.

Yu, Fu-Lai Tony.

Edward Elgar Pub. Co.


177 pages




Yu (economics, Feng Chia U., Taiwan) acknowledges the shortcomings of contemporary research on industrial organization and strategy and proposes a subjectivist approach to economic and management problems. Using the works of Max Weber, Alfred Schultz, Ludwig von Mises and Frank H. Knight, Yu develops a subjective interpretation framework to promote better understanding of all elements of business. He concludes with an application of the concept of social construction of error to the Austrian business cycle and presents a theory of institutional change based on Schumpeterian and adaptive entrepreneurship.

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Publication:Reference & Research Book News
Article Type:Book Review
Date:Nov 1, 2005
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