Lex Phonographica 9: Herbert A. Simon, Organizations and Markets (1991)

In 1991, the American economist, political scientist and cognitive psychologist Herbert Simon published "Organizations and Markets" in the Journal of Economic Perspectives. It provides a critique of neoclassical and new institutional economic assumptions of organizational behavior. "Research into the decision-making process within economic organizations" won him the The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1978. Simon provides a theory of organizations in economic systems in both capitalist and non-capitalist economies in this paper.This article was read by Luce Nguyen, who is on Twitter at @NguyenLuce. Hosted on Acast. See acast.com/privacy for more information.