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Markets in the firm
Author(s) -
Phillips Ken
Publication year - 2001
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/1468-0270.00309
Subject(s) - business , servant , industrial organization , market economy , economics , engineering , software engineering
There is widespread acceptance of the advantages of a market economy but not yet of the next logical step of applying market principles to the internal operations of firms. The use of markets within firms would benefit companies and the economy. It would also require fundamental re‐appraisal of labour market regulations which imply master????????servant relationships.