The Corporate Triangle

The Corporate Triangle draws together the work of three leading economists to give a new and important view of the international differences in corporate systems. For students and specialists this short text succinctly addresses the failure of economic theory to construct an acceptable concept of the nature of the firm, and examines how this can be corrected.The authors criticise the concept that the enterprise is only an investment project and demonstrate that this neglects the contribution of labour to the capacity of the firm to add value, and be a source of long-term income.The book also takes a historical approach to show that the differences between corporate systems can be seen as stages in organisational development. This is critical in gaining an understanding of both the processes that have made modern enterprises what they are today, and the internal systems that they will need for their future success.For all those who study economics and international business the contributions to this book will give a new perspective on the role of the firm in the international economic system and the various forms of market economy to which they contribute.

Piet Hein Admiraal teaches at Erasmus University in Rotterdam. He is the author of a wide range of papers and articles looking at economic systems and industrial organization from the perspective of the market as an economic institution.

William Lazonick started his career as a member of Arthur Chandler Jnrs research team and now works at the Center for Industrial Competitiveness at the University of Massachusetts Lowell. He has published widely including his well known book Business Organization and the Myth of the Market Economy.

Ronald Dore is Professor of Economics in London and Bologna and has previously worked in Japan. Whilst there he undertook the research for his seminal book British Factory-Japanese Factory: The Origins of National Diversity in Industrial Relations, now in its second edition.

Henk de Jong is a leading Dutch economist in the field of industrial organization. The focus of his work is on the dynamic aspects of economic life. He has authored and edited a number of widely known titles including Dynamic Market Theory and The Structure of European Industry.

Notes on the Contributors

vi

(2)

Preface

viii

1 The Anglo-Saxon Corporate System

1

(34)

William Lazonick

2 The Asian Form of Capitalism

35

(23)

Ronald Dore

3 The European Corporation

58

(54)

Henk W. de Jong

Index

112

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The Corporate Triangle

Summary

Author Biography

Table of Contents

Supplemental Materials