Prospects: Solidarity Within the Firm

Abstract

Since the speakers have already been asked to condense their papers for a 15-minute presentation, any recapitulation seems presumptuous. We may find ourselves with a caricature at best, or an all too simplistic summary which does not do justice to the excellence of the contribu? tions. However, with this understanding and the hope that I will not go down in history as the microchip of microeconomics, I humbly approach my task. I will also concentrate more on the prospects for the future which were discussed by the participants after the presentations. As you recall from the papers themselves, Henry Briefs of George? town University considered the scholarly contributions of the German theologian, Heinrich Pesch, of the Society of Jesus; Herbert Simon, Carnegie-Mellon psychologist; and Oliver Williamson, economist from the University of Pennsylvania. This triad has improved the understand? ing of modern persons at work, emphasizing their special skills and needs and how these can best be developed in a societal context through gain seeking at a microeconomic level. Pesch's emphasis was on the importance of work to man's human, social nature, whereby his material well-being (including spiritual, cultural, and intellectual pursuits) is achieved under conditions of scar? city and specialization requiring coordination, cooperation, and exchange through intelligent (i.e., cost effective) and responsible (i.e., moral) choices subject to authority and leadership. These reciprocal contributions add up to welfare and human solidarity. Simon introduced problems of information lags and complexity which increase uncertainty and rearrange bargaining power, causing opportunistic behavior. Williamson's contribution studied comparative institutions with two complementary models applicable to our current concern with the individual firm: (1) peer group decision making, and (2) hierarchical authority. We concluded that peer participation under authority (or leadership, as it later came out in our discussion) is the best approach for the solidarity and cooperation needed to achieve social justice in the work place.