Knowledge that Transforms

Questions relating to the existence and nature of firms have become major issues in economics in recent years. In this major new work, Neil Kay provides original explanations for many individual phenomena in this area. The analysis is set in the context of an integrative framework for analysing the boundaries and structure of the firm. The book analyses the firm as a complex system in which links composed of shared resources constitute basic building blocks. The evolution of the firm from simple beginnings to complex system is then studied in a number of areas, including vertical integration, diversification, multi- national enterprise, joint venture, alliance, network, and internal organization. Neil Kay's analysis advances current theories of the firm and will be essential reading for students and academics in the areas of business economics, strategic management, and organization theory.

In this paper, we examine the underlying dynamics of the differences between blacks' and whites' responses to social accounts-explanations or excuses for negative actions and events. Across four studies we found that when black respondents observed unjust behaviors toward a hypothetical black victim, social accounts had a weak impact on perceptions of injustice, confirming the presence of what we call the persistent injustice effect. We also found that social accounts have a weaker impact on perceptions of injustice than on disapproval of the harm-doer and posit that the persistent injustice effect results from a combination of in-group identification with the victim and the respondent's personal experiences with injustice. These two factors, we theorize, combine to create greater empathy for the victim.

Despite all that has been written about business and its role in American life, contemporary theories about the modern corporation as a social and political institution have failed to explain adequately the pervasiveness and complexity of corporate power in the twentieth century. Through an analysis of history, law, ideology, and economics that spans two centuries, Scott R. Bowman attempts to offer a complete interpretation of the way corporate power has achieved its dominant position in American society today. In The Modern Corporation and American Political Thought, Bowman demonstrates how judge-made and statutory laws have structured and regulated the growth of corporate power while preserving corporate autonomy. The argument unfolds within a historical framework that reconstructs the evolution of the corporation with reference to its two dimensions of power: internal (within the enterprise) and external (in society at large). Bowman examines and revises Marxist, pluralist, and managerial theories to develop his own political theory about class conflict and corporate power and offers fresh interpretations of the political thought of Herbert Croly, Walter Weyl, Thorstein Veblen, Peter F. Drucker, Adolph A. Berle, and John Kenneth Galbraith. Ultimately, this book sets forth the first political theory that adequately accounts for the power of the modern corporation in all its dimensions.