Strategizing, Disequilibrium, and Profit

Reviews / Votes

"There has been a growing rebellion, both among economists and analysts of business strategy, against the static view of the competitive process contained in neoclassical economics, and movement towards the very different picture of the competitive environment within which firms operate put forth by Joseph Schumpeter and developed in modern economic evolutionary theory. This fine book places firms squarely within an environment marked by Schumpeterian competition, and develops the implications regarding business strategies that can work in such a context. This reorientation of theorizing about business strategy is much needed, and very well done." - Richard R. Nelson (Columbia University) "[T]his is a book that should be read by anyone who seeks to contribute to the theory of the firm. Mathews' efforts to retain the valuable ideas and constructs of economic, strategic management, and entrepreneurship theory, and to incorporate them into a realistic and usable framework, are admirable. The sweeping scope of his framework will allow individual scholars to see and understand how their research fits into the evolving theory of the firm and where their scholarly efforts should be directed in the future. Both economists and organizational theorists will learn a great deal from this refreshing work." - Academy of Management Review "Unlike most books on the theory of the firm, this one takes reality into account. Mathews has researched the semiconductor and other leading-edge industries, studied both small and large entrepreneurial firms, and analyzed trade agreements between nations. His accumulated wisdom is woven into a simple yet elegant framework, and his arguments for firm strategizing under conditions of disequilibrium are compelling. Both economists and organizational scholars will learn a great deal from this refreshing work." - Charles Snow (Penn State University) "I have no doubt that Strategizing, Disequilibrium, and Profit will become a classic in the field of strategic management, industrial organization, managerial economics, evolutionary economics, and business studies. I strongly recommend it to colleagues, researchers, students, and practitioners who continue to be fascinated by today's global world of economic change and firm dynamics." (Environment and Planning A)