Markets and organizations as coherent systems of innovation

Mario Amendola () and Jean-Luc Gaffard
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Mario Amendola: UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]

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Abstract: The firm, its tasks and the way in which it relates to the market appear in a different light with respect to the standard theory, within the perspective of a process of innovation interpreted as a creation of resources. The main problem with a similar process — a learning process which essentially consists of the structuring of new and totally original productive options — is to make it viable. This implies that markets and organizations should not be looked at as distinct institutions whose respective efficiency must be tested with respect to a problem of allocation of given resources, but rather considered as a system whose coherence depends on being able to render a process of creation of new specific resources viable.

Date: 1994-11
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Published in Journal of Comparative Policy Analysis, 1994, 23 (6), pp.627 - 635

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