The last subject covered by Nicolai Foss and Peter Klein in Organizing Entrepreneurial Judgment is the internal organization of the firm. Foss and Klein argue that the organization of the firm is critical to how entrepreneurial judgment will be manifested at different levels of the firm. Ownership rights are foundational for this organization to occur.…
In the final chapters of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein set out to theoretically account for the existence, boundaries and internal organization of the firm. They continue to focus on the central role of the entrepreneur in explaining the firm. Chapter seven is the point at which Foss and Klein really begin…
Beginning with chapter six of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein focus on actually making the connection between the theory of the entrepreneur and the theory of the firm. Specifically in chapter six, Foss and Klein dive into existing theories of the firm and the role for the entrepreneur within those theories. While…
In this post, we highlight a few popular level resources for gaining a deeper understanding of the financial crisis and its aftermath.
The Bubble, a documentary examining the financial crisis, will be arriving shortly.
Fraud: Why the Great Recession features Jesus Huerta deSoto and Philip Bagus and is already available.
Learn “real history and economics”…
In chapter 5 of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein articulate the real nature of capital goods. They explain how the treatment of capital goods has varied among different schools of economic thought as well as the implications for the firm and the entrepreneur resulting from differing conceptions of capital goods. Foss and…
Nicolai Foss and Peter Klein give a full overview of judgment in chapter 4 of their book Organizing Entrepreneurial Judgment. Foss and Klein present an overview of the economic literature which treats entrepreneurship as judgment and proceed to flesh out the attributes of judgment. They conclude the chapter by suggesting that investments should be the…
Chapter three of Nicolai Foss and Peter Klein’s book Organizing Entrepreneurial Judgment: A New Approach to the Firm takes a detailed look at the opportunity discovery view of entrepreneurship put forth by Kirzner (as we discussed in part 2 yesterday) and compares and contrasts it with the views of those in the Austrian School of…
Foss and Klein dedicate the second chapter of their book Organizing Entrepreneurial Judgment: A New Approach to the Firm to putting forth the best definition of entrepreneurship. Although entrepreneurship studies is one of the fastest growing fields in colleges and universities around the world, FK argue that there is still much work to be done…
Throughout the next couple of weeks I will be blogging through the book Organizing Entrepreneurial Judgment: A New Approach to the Firm by Nicolai Foss and Peter Klein. I am hard pressed to think of a more fitting time for this book to be read. The book’s aim is to integrate the study of entrepreneurship…
If you’ve been following the news lately then you have probably heard something about Barclays and interest rate fixing. Barclays is a massive banking corporation based in the UK with a large world-wide presence. By ‘interest-fixing’ financial commentators mean Barclay’s lied about the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR).…
