“First, most producers are employees of firms, not owners. Viewed from the vantage point of classical [economic] theory, they have no reason to maximize the profits of firms, except to the extent that they can be controlled by owners. Moreover, profit-making firms, nonprofit organizations, and bureaucratic organizations all have exactly the same problem of inducing their employees to work toward organizational goals. There is no reason, a priori, why it should be easier (or harder) to produce this motivation in organizations aimed at maximizing profits than in organizations with different goals. If it is true in an organizational economy that organizations motivated by profits will be more efficient than other organizations, additional postulates will have to be introduced to account for it.”
Simon (1991) "Organizations and Markets:" in: Journal of Economic Perspectives. 5 (2 Spring 1991): p. 28.
1980s and later
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Herbert A. Simon 58
American political scientist, economist, sociologist, and p… 1916–2001Related quotes

Source: The Internet Galaxy - Reflections on the Internet, Business, and Society (2001), Chapter 3, e-Business and the New Economy, p. 92
Source: The transformation of corporate control, 1993, p. 10 ; As cited in: François L'Italien, BÉHÉMOTH CAPITAL. Contribution à une théorie dialectique de la financiarisation de la grande corporation. Université Laval, 2012. p. 147 (Many of the following quotes came from this source)
Source: Managerial Economics, 1951, p. 28; Cited in: Peter F. Drucker, Management: Tasks, Responsibilities, Practices, New York: Harper & Row, 1973.

Source: Production, information costs, and economic organization. 1972, p. 777, Lead paragraph
Source: Production, information costs, and economic organization. 1972, p. 777, Lead paragraph
Source: The transformation of corporate control, 1993, p. 55
Source: The transformation of corporate control, 1993, p. 15

Source: 1970s-1980s, The Economics of Information (1984), p. 55 as cited in: Demetri Kantarelis (2008) " Book Review: Title: Theories Of The Firm 2nd Edition http://www.inderscience.com/books/TOF_american_econ_review.pdf". In: The American economist. Vol 52, Nr 1. p. 117