Abstract: Scottish Journal of Political EconomyVolume 57, Issue 1 p. 1-32 THE (NON)THEORY OF THE KNOWLEDGE FIRM Paul Walker, Paul Walker University of CanterburySearch for more papers by this author Paul Walker, Paul Walker University of CanterburySearch for more papers by this author First published: 21 December 2009 https://doi.org/10.1111/j.1467-9485.2009.00504.xCitations: 6Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL ABSTRACT This paper argues that the mainstream approaches to the theory of the firm do not provide a theory of the human capital-based or knowledge firm. We examine the neoclassical theory of the firm, the transaction cost model, the incentive-system approach and the Grossman Hart Moore approach and argue that none of them is able to fully capture the changes to the firm that the movement towards a knowledge economy entails. We also consider the effects of knowledge on the organisation of production. Will production take place within a single large factory, or several smaller factories or even within households? Citing Literature Volume57, Issue1February 2010Pages 1-32 RelatedInformation