Information and Organization: A New Perspective on the Theory of the Firm

Information and Organization: A New Perspective on the Theory of the Firm

Information and Organization: A New Perspective on the Theory of the Firm

Information and Organization: A New Perspective on the Theory of the Firm

Synopsis

Information and Organization offers a vision of the economy as a system of structured information flow, counterbalancing the more conventional view of a simple flow of material goods. The structuring is effected by institutions and, in particular, by firms, which specialize in processing theinformation needed to allocate resources. In place of the orthodox emphasis on the adversarial use of asymmetric information, the book stresses the use of information for creative purposes--for decision-taking and co-ordinating the use of resources. Mark Casson's 'new perspective' has grown out of fifteen years of having to modify the conventional theory to make it work properly. The discussion is rigorous, confronting rather than evading issues; and it develops a new diagrammatic technique to chart information flow. For all this, the book iswritten in accessible language and will be a solid foundation for future research efforts by scholars and graduate students in management studies, business and economic history, and instutional economics.
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