Based on the proceedings of a conference organised by the National Bureau of Economic Research, Chicago, 1999. The Editors demonstrate, through contributions from business historians and economists, that “advanced research” has superceded the neo‐classical theory of the firm.

Based on the proceedings of a conference organised by the National Bureau of Economic Research, Chicago, 1999. The Editors demonstrate, through contributions from business historians and economists, that “advanced research” has superceded the neo-classical theory of the firm.

Modern developed nations are rich and politically stable in part because their citizens are free to form organizations and have access to the relevant legal resources. Yet in spite of the advantages of open access to civil organizations, it is estimated that eighty percent of people live in...