Table of contents

  1. Front Matter
    Pages i-xi
  2. Li Way Lee
    Pages 1-5
  3. The Minds of a Firm

    1. Front Matter
      Pages 7-7
    2. Li Way Lee
      Pages 9-16
    3. Li Way Lee
      Pages 17-22
    4. Li Way Lee
      Pages 23-31
  4. The Firm’s Body: The 4 Toos

    1. Front Matter
      Pages 33-33
    2. Li Way Lee
      Pages 35-40
    3. Li Way Lee
      Pages 41-46
    4. Li Way Lee
      Pages 47-52
    5. Li Way Lee
      Pages 53-57
  5. Epidemics

    1. Front Matter
      Pages 59-59
    2. Li Way Lee
      Pages 61-67
    3. Li Way Lee
      Pages 69-75
    4. Li Way Lee
      Pages 77-81
  6. Antibodies

    1. Front Matter
      Pages 83-83
    2. Li Way Lee
      Pages 85-91
    3. Li Way Lee
      Pages 93-102
    4. Li Way Lee
      Pages 103-109
  7. Back Matter
    Pages 111-113

About this book


This book takes the reader on a new tour of the world of firms. We start with a visit to the inside of a firm. We meet the owner and the manager. We look deeply into their mindsets. Then we move outside the firm, to observe the firm's outer features. We pay particular attention to its size, its complexity, its fragility, and its similarity to other firms. In the second half of the tour, we visit communities of firms. We watch waves of mergers, chaos, and bubbles. Before returning, we witness battles between firms and creatures that act like antibodies in our blood: corporate raiders, antitrust agencies, and creative destructors. Throughout the tour, we ask how the things we see are linked. This book encourages the reader to see them as feedback loops. The book’s overarching argument is the importance of the separation of ownership and control and how society must pay more attention to the concept.


industrial organization firms the nature of the firm ronald coase market share antitrust complex firm mergers creative destructor disruptor

Authors and affiliations

  • Li Way Lee
    • 1
  1. 1.Department of EconomicsWayne State UniversityDetroitUSA

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2019
  • Publisher Name Palgrave Pivot, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-030-26236-5
  • Online ISBN 978-3-030-26237-2
  • Buy this book on publisher's site
Industry Sectors
Materials & Steel
Chemical Manufacturing
Finance, Business & Banking