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Exit, Voice, and Loyalty by Albert Hirschman (Lecture)

Other Life

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Reversible Declines in Organizational Function

The subtitle of the book is responsev to decline in firms, organizations and states. The author invokes the distinction between random fluctuations, d nd systematic fluctuations. If there are systematic reasons, kind of exogenous, externalsecular forces, that are making an institution decline, then his analysis is not going to be relevant. But having said that, i'm of the view that much of what we're seeing today in the organizational decline across the west is to systemic exogenous forces. I still just think that there's a lot of value in the intuitions and mental models this book offers.

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