Authors

• Reyes Calderón (rcalderon@unav.es)
  School of Economics and Business Administration, University of Navarra

Abstract
Despite the growing role that business has played in the development of capitalism, the neo-classical paradigm has largely ignored the concept of organization. This paper illustrates the neo-classical concept of the firm and the entrepreneur. Analyzing both, the moral and economic thought of Adam Smith, this paper explains why, in the heart of Industrial Revolution, the paradigm elects an unrealistic and quasi-medieval concept of the firm. The paper argues that it is not by chance that the collective actions and thinking were neglected, rather it is necessary in order to maintain the core-values of the paradigm. Finally, the paper discusses if a firm could be a good subject for institutionalizing of socioeconomics.

Classification JEL:B0

Number of Pages:45

Creation Date:2004-01-01

Number:null/04