The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of...

The paper studies through the lens of the economic theory of the firm the development of two managerial disciplines: supply chain management and relationship marketing. The author demonstrates which ideas have been borrowed by these disciplines from the economic theory of the firm, and in what...

The paper considers the approaches to the theory of the firm developed by strategic management scholars: positioning theory, resource-based view, dynamic capabilities approach, knowledge-based view, strategic theory of the firm, as well as open innovations theory. The author shows how the ideas...

In the paper the capabilities and limitations of methodological individualism­ as a core principle of mainstream economics are explored. The recent debate dealing­ with methodological individualism in economics is considered. Institutional individualism­ principle is tested. As a challenging...

The latest world economic and financial crisis highlighted problems in macroeconomic policies pursued by developed economies as well as the necessity of searching for an effective regulatory framework. In particular, doubts have occurred in the indisputability of advantages of inflation...