Technology and Paradigms of Managerial Decision Making
Combines theory with practice, based on experiences rather than philosophical speculation. The question posed is whether technological innovation must be regarded as an exogenous or endogenous variable in economic models. Neoclassical economics, even in such modified versions as developed by Samuelson and Solow, regard technology, labour economics and social change, exogenous. The belief is that they are endogenous, and innovations in the technological sphere are no less influenced by economic factors than the economy by technological developments. Examines the related decision-making processes in one of the major electronics multinationals in order to obtain more insight into the complex interaction between economic and technological changes.