Writers after Coase have referred to the authority structure of the firm as a "visible hand" that works in combination with Smith's invisible hand. The everyday fact that employers exercise power over their employees - not news to most employees - had been a central theme in Marx's economics, but it was (and generally continues to be) overlooked by most neoclassical economists. Early in his studies Coase noted the similarity between the hierarchical organization of capitalist firms, with their reliance on command relations, and the then-existing system of centralized economic planning in the Communist countries, where production was carried out in accordance with orders from higher authorities and where market competition played little role.
Samuel BowlesRelated topics
authorities authority capitalist carry central command communist early economics market news organization planning power production similarity theme relations works neoclassical higherRelated quotes
Every change in the social order, every revolution in property relations, is the necessary consequence of the creation of new forces of production which no longer fit into the old property relations. Private property has not always existed. When, towards the end of the Middle Ages, there arose a new mode of production which could not be carried on under the then existing feudal and guild forms of property, this manufacture, which had outgrown the old property relations, created a new property form, private property. And for manufacture and the earliest stage of development of big industry, private property was the only possible property form; the social order based on it was the only possible social order.
Friedrich Engels
Towards the end of 1958, I greatly increased.. ..the works done with what is called poor material. I felt the need to persist and go deeper with the entire message of what is insignificant, worn or dramatised by time.. .In fact, it was the most conscious resumption of subjects that had often attracted me. In my research, I had discovered this material, one I find loaded with strange suggestions, which is cardboard. A grey, anonymous material that won't be easily manipulated, for which very reason the slightest mark of the hand torments it and destroys it. But the piece of cardboard, the box, the lid, the tray.. ..dirty clothes (socks, T-shirt, underpants...), old furniture, everyday objects; not used as a representation or theme in the picture but as real bodies, objects.
Antoni Tàpies
[We may view the] economic organization as a system of prize relations. Seen in the large, free enterprise is an organization of production and distribution in which individuals or family units get their real income, their "living," by selling productive power for money to "business units" or "enterprises", and buying with the money income thus obtained the direct goods and services which they consume. This view, it will be remembered, ignores for the sake of simplicity the fact that an appreciable fraction of the productive power in use at any time is not really employed in satisfying current wants but to make provision for increased want-satisfaction in the future; it treats society as it would be, or would tend to become, with progress absent, or in a "static” state.
Frank Knight
Identical in the physical processes by which he originates-identical in the early stages of his formation-identical in the mode of his nutrition before and after birth, with the animals which lie immediately below him in the scale-Man, if his adult and perfect structure be compared with theirs, exhibits, as might be expected, a marvellous likeness of organization. He resembles them as they resemble one another-he differs from them as they differ from one another.-And, though these differences and resemblances cannot be weighed and measured, their value may be readily estimated; the scale or standard of judgment, touching that value, being afforded and expressed by the system of classification of animals now current among zoologists.
Thomas Henry Huxley
Annette's communiqué is anodyne; a giggling confession off camera (shower-curtain rain in the background) that the famous Manfred Macx is in Paris for a weekend of clubbing, drugging, and general hell-raising. Oh, and he's promised to invent three new paradigm shifts before breakfast every day, starting with a way to bring about the creation of Really Existing Communism by building a state central planning apparatus that interfaces perfectly with external market systems and somehow manages to algorithmically outperform the Monte Carlo free-for-all of market economics, solving the calculation problem. Just because he can, because hacking economics is fun, and he wants to hear the screams from the Chicago School.
Charles Stross