Specialization and Exchange

The aim of this topic is to show the structure of the basic problem of any economy and to indicate how a number of organizational solutions of varying efficacy can be used to solve it. Special emphasis is placed on one facet of this economic problem, that of the difficulties involved in specialized production resources. Comments are  made on the two main solutions to this problem, markets and politics. The role of organizations is then analyzed, with special emphasis on firms.


Go back