Table of Contents

1 Background

Notes

References

2 The division of labour and the firm

Ancient philosophers

Medieval period

Pre-classical economics period

19th century

20th century

Notes

References

3 Development of a theory of production or the firm

Pre-classical economists

The classical economics period

The neoclassical era

Behavioural and managerial models

Contemporary criticisms of the neoclassical model

Coase versus Demsetz on the neoclassical model

Profit maximisation

Malmgren (1961)

Notes

References

4 Possible reasons for the neglect of the firm

Notes

References

About the Author

Paul Walker is an economist in Christchurch, New Zealand. He received his PhD in Economics from the University of Canterbury, Christchurch, New Zealand. His research is mainly on the history of economics and the theory of the firm.