The theory of the firm has been fertile ground for economists. Bylund proposes a new theory, rooted in Austrian economics, which examines the firm as a part of the market, and not as a free-standing entity. In this integrated view, a theory is offered which incorporates entrepreneurship, production, market process and economic development.

About the Author

Per L. Bylund is Records-Johnston Professor of Free Enterprise and Assistant Professor of Entrepreneurship, School of Entrepreneurship, Oklahoma State University, USA.

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