In this groundbreaking title from the mid-1990s, Tyler Cowen and David Parker explore the extent to which firms can benefit from using market principles to allocate resources within their organisations.

They suggest that just as central economic planning is ineffective, so planning at the level of the individual firm is inadequate in responding to market place requirements. The danger, of course, in less formally structured organisations is that of anarchy in decision making, but Cowen and Parker suggest ways in which this can be avoided, and provide examples of how this decentralisation has worked in practice.

The main conclusion of this book is that market principles are appropriate guides in business decisions as well as providing the best structure for economy-wide resource allocation.

2007, 1997, Hobart Paper 134, ISBN 978 0 255 36405 8, 92pp, PB

See Also:
Chaos, Management and Economics by David Parker and Ralph Stacey

Print-on-Demand. This title is made available through print-on-demand and is a reprint of the 2nd edition, printed by the IEA in 1996. Print-on-demand allows the IEA to make available out-of-print titles by printing a copy of each book individually rather than by using the traditional method of reprinting in bulk. The contents of the book are indistinguishable from the original, with the only noticeable difference being in the cover design.

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