The Review of Austrian Economics, 16:4, 385–393, 2003. c 2003 Kluwer Academic Publishers. Manufactured in The Netherlands. Review Shelby D. Hunt (2000) A General Theory of Competition: Resources, Competences, Pro- ductivity, Economic Growth, Thousand Oaks, London and New Delhi: Sage Publications, xv + pp. 303. This book bears witness to the fact that business administration as an academic ﬁeld of study has arrived. Over the past twenty years, it has outgrown its role of receiving, applying, popularizing, and in this process often simplifying and distorting, theories from economics, psychology, or sociology. The resource-based theory of the ﬁrm, which was developed primarily in management strategy, exempliﬁes a reversal of the traditional intellectual bor- rowing relationship. It is therefore particularly noteworthy if a marketing scientist, though certainly equipped with a signiﬁcant background in economics, seeks to develop a general theory of competition, by obliterating the old distinction between “theoretical” economics and “applied” business disciplines. Such endeavor, on the other hand, exposes a book not only to a review of its merits for marketing but—if such distinction can still be upheld at all—also for “general” economics. Shelby D. Hunt holds a distinguished chair in marketing at Texas Technical University and has produced
The Review of Austrian Economics – Springer Journals
Published: Oct 4, 2004
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