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Offers a vision of the economy as a system of structured information flow. The structuring is effected by institutions, and in particular, by firms, which specialize in processing the information needed to allocate resources properly. Market‐making firms that intermediate between producers and consumers by developing brands, are particularly important in this respect. Firms are the institutional embodiment of the visions of the entrepreneurs who found them. Firms grow and decline, creating a highly flexible structure of information processing in society, which evolves and adapts as circumstanc ... More
Keywords: Coordination, Entrepreneur, firm, Industrial Districts, information, intermediation, Markets, networks, Organization
Print publication date: 2001 | Print ISBN-13: 9780198297802 |
Published to Oxford Scholarship Online: November 2003 | DOI:10.1093/0198297807.001.0001 |
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