The theory of the firm: An epistemological analysis |
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| Authors: | Niraj Verma C. West Churchman |
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| Affiliation: | (1) School of Urban Planning and Development, University of Southern California, 90089-0042 Los Angeles, California;(2) Walter A. Haas School of Business, University of California, 94720 Berkeley, California |
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| Abstract: | Is the theory of the firm equipped to answer questions about contemporary society? By a systemic examination of the nature of laws and facts assumed in the theory of the firm, we find that while the theory of the firm has found its Descartes and its Hume, it is not yet clear whether it has found its Kant. We speculate that a pragmatism-inspired theory of the firm, which incorporates the science of ethical management, is needed for the theory to become relevant for contemporary society. |
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| Keywords: | systems approach theory of the firm epistemology ethics |
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