The Theory of the Market Economy

George B.Richardson

Revue Économique, 1995, vol. 46, issue 6, 1487-1496

Abstract: [eng] The coordination of economic activities within a free enterprise economy takes place in three ways ; through market transactions, through cooperation between firms linked in networks of association and affiliation, and within firms through direction. Firms will be able to make informed investment decisions only if markets are in some degree imper­fect. Coordination within firms, which may be regarded as contrived microsystems, depends also on internal cooperation and pricing arrangements. [fre] La coordination des activités économiques dans une économie de libre entre­prise prend place de trois façons : à travers les transactions de marché, à travers la coopération entre firmes liées dans des réseaux d'association et d'affiliation, et à l'intérieur des firmes à travers la direction. Les firmes seront en mesure de pren­dre des décisions informées d'investissement seulement si les marchés sont, à un certain degré, imparfaits. La coordination à l'intérieur des firmes, qui peuvent être regardées comme des microsystèmes artificiels, dépend aussi de la coopération interne et des arrangements de prix.

Date: 1995
Note: DOI:10.3406/reco.1995.409747
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.3406/reco.1995.409747 (text/html)
https://www.persee.fr/doc/reco_0035-2764_1995_num_46_6_409747 (text/html)
Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prs:reveco:reco_0035-2764_1995_num_46_6_409747

Access Statistics for this article

Revue Économique is currently edited by Presses de Sciences-Po

More articles in Revue Économique from Programme National Persée
Bibliographic data for series maintained by Equipe PERSEE ().