chapter  7
18 Pages

The new economy and the Austrian theory of the firm


So-called “new economy” approaches highlight the role played by innovation and information in all economic activities. As far as the behavior of the firm is concerned the question addressed by the new economy affects the kinds of coordination forms, both internal and external, which may permit exploitation of information henceforward relatively both richer and less expensive in order to innovate. Indeed, the transformation pressure induced by the new economy seems to reward organizations that adapt and innovate.