Enterprise and Innovation: From Schumpeter to Current Interrogations

Martou, François

Enterprise and Innovation: From Schumpeter to Current Interrogations - 2005.


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Questions about corporate governance and events such as the Enron or Vivendi affairs echo a series of questions about the firm in economic theory. While Walras and general equilibrium differ from Schumpeter’s approach, the conflict between stockholders and management was already discussed by Berle and Means in the 1930s. The regulation of firms for the purpose of corporate social responsibility requires more than ethics. What can be the role of the law, labor unions, and society in the crisis of confidence over agency and principal?

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