Beyond Markets and Hierarchies: Toward a New Synthesis of American Business History

Lamoreaux et al offer a new synthesis of the past two centuries of American business history. Moving beyond the markets-versus-hierarchies framework that underlies the previously dominant interpretation of Alfred D. Chandler Jr., they highlight the great variety of coordination mechanizations in use...

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Bibliographic Details
Published inThe American historical review Vol. 108; no. 2; pp. 404 - 433
Main Authors Lamoreaux, Naomi R., Raff, Daniel M. G., Temin, Peter
Format Journal Article
LanguageEnglish
Published Oxford American Historical Association 01.04.2003
Oxford University Press
Subjects
Automobile manufacturers
Automotive industries
Business
Business community
Business management
Business structures
Consumer goods industries
Corporations
Economic coordination mechanisms
Economic history
Economic theory
Economics
Enterprises
Hierarchy
History
Management hierarchy
Market
Merchants
U.S.A
United States
US
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Summary:Lamoreaux et al offer a new synthesis of the past two centuries of American business history. Moving beyond the markets-versus-hierarchies framework that underlies the previously dominant interpretation of Alfred D. Chandler Jr., they highlight the great variety of coordination mechanizations in use in the economy at any given time. Drawing on recent theoretical work in economics, they show how the relative advantages and disadvantages of these different mechanisms have sifted in complex and often unpredictable ways as a result of changing economic circumstances.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0002-8762
1937-5239
DOI:10.1086/533240