The visible and the invisible hand: Resource allocation in the industrial sector
指出工业部门资源配置不仅依赖资本市场,还受企业内部组织、政治和意识形态因素影响,对理解经济体系中的资源分配有重要启示。
Abstract The standard economic analysis holds that resource allocation in the industrial sector is primarily a market process operating through the capital markets. The current political resurgence of free market economics has popularized this approach. Contrary to this approach the authors demonstrate that: (1) trends in the size, diversity and administrative complexity of firms; (2) structural features of the capital markets; and (3) the emergence of the state as a major source of capital in developed countries imply that internal organizational and political/ ideological considerations are also vital to understanding resource allocation in the economy.