An innovator in contemporary thought on economic and political development looks here at decline rather than growth. Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, "exit," is for the member to quit the organization or for the customer to switch to the competing product, and the other, "voice," is for members or customers to agitate and exert influence for change "from within." The efficiency of the competitive mechanism, with its total reliance on exit, is...
An innovator in contemporary thought on economic and political development looks here at decline rather than growth. Albert O. Hirschman makes ...
This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Chapter II attempts a systematic theoretical approach to the subject. It first makes clear the fundamental basis of the possible use of foreign trade as an instrument of national power policy. Using well-known concepts of economic analysis, it proceeds to show under what conditions and by means of what policies this instrument is likely to attain its highest efficiency. The principles of power policy thus deduced theoretically are then compared...
This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Cha...