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Austrian Economics and the Firm


Nicolai Foss and I have worked on many projects together, including our 2012 book Organizing Entrepreneurial Judgment. Foss is an eminent scholar whose expertise ranges from strategic management and entrepreneurship to Austrian capital theory, human resource management, business model innovation, and many other subjects. (Here is his 2012 Hayek Lecture at the AERC.)

One of our earliest collaborations was a 1998 conference in Copenhagen on Austrian economics and the firm. The conference proceedings were published in 2002 by Edward Elgar as Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization. As the blurb says: "While characteristically ‘Austrian’ themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization, and strategy. This innovative book features 12 chapters that all seek to advance the understanding of these issues by drawing on Austrian ideas."

The book is unfortunately rather pricey, but Elgar has just added it to Elgar Online, so that the front matter, introduction, and index are available as free downloads. Some readers will have access to the full text via university or commercial libraries.

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