1. Introduction and Doctrinal Background Enter "exit" and "voice" Latitude for deterioration, and slack in economic thought Exit and voice as impersonations of economics and politics 2. Exit How the exit option works Competition as collusive behavior 3. Voice Voice as a residual of exit Voice as an alternative to exit 4. A Special Difficulty in Combining Exit and Voice 5. How Monopoly Can be Comforted by Competition 6. On Spatial Duopoly and the Dynamics of Two-Party Systems 7. A Theory of Loyalty The activation of voice as a function of loyalty Loyalist behavior as modified by severe initiation and high penalties for exit Loyalty and the difficult exit from public goods (and evils) 8. Exit and Voice in American Ideology and Practice 9. The Elusive Optimal Mix of Exit and Voice Appendixes A. A simple diagrammatic representation of voice and exit B. The choice between voice and exit C. The reversal phenomenon D. Consumer reactions to price rise and quality decline in the case of several connoisseur goods F. The effects of severity of initiation on activism: design for an experiment (in collaboration with Philip G. Zimbardo and Mark Snyder) Index
This is a marvelously perceptive essay which illuminates some of the most interesting economic and social questions of our time. I have read it with enormous interest and admiration, and the further pleasure that one has in being with an author who can think things through. -- John Kenneth Galbraith I read Exit, Voice, and Loyalty with absolute fascination and found that it pulled together, in organized form, many random glimmerings that I had previously understood only dimly -- Joseph Kraft Professor Hirschman's small book is bursting with new ideas. The economist has typically assumed that dissatisfaction with an organization's product is met by withdrawal of demand, while the political scientist thinks rather of the protests possible within the organization. Hirschman argues that both processes are at work and demonstrates beautifully by analysis and example that their interaction has surprising implications, a theory that illuminates strikingly many important economic and political phenomena of the day. The whole argument is developed with an extraordinary richness of reference to many societies and cultures. -- Kenneth J. Arrow There is, of course, no substitute for a mind as original, playful, subtle, and fresh as Hirschman's. -- Stanley Hoffmann I read Exit, Voice, and Loyalty with absolute fascination and found that it pulled together, in organized form, many random glimmerings that I had previously understood only dimly. -- Joseph Kraft
Albert O. Hirschman was Professor of Social Science, Emeritus, at the Institute for Advanced Study in Princeton, following a career of prestigious appointments, honors, and awards. Perhaps the most widely known and admired of his many books are Exit, Voice, and Loyalty (Harvard) and The Passions and the Interests (Princeton).
Hirschman’s work changes how you see the world. It illuminates
yesterday, today, and tomorrow… His most important [book].
*New York Review of Books*
A 126-page burst of lucidity… [Hirschman’s] masterwork.
*Wall Street Journal*
One of the masterpieces of contemporary political thought.
*New Yorker*
This unusual and subtle book is…an exercise in interdisciplinary
analysis focused on the interaction between market and non-market
forces affecting the process of development and decline… Professor
Hirschman develops a theory of loyalty as a key factor in the
interaction between voice and exit: loyalty is shown to postpone
exit and to make voice more effective through the possibility of
exit.
*The Economic Journal*
This is an imaginative little book. Its message should be of use to
economists, political scientists, and all those interested in
policy questions related to these areas. Hirschman starts his
argument by assuming that in time all organizations (firms,
bureaus, political parties, governments, and so on) develop slack
and experience a deterioration in the quality of their output. The
clients of a declining organization have two options for reversing
this trend: exit and voice. And much of the book is devoted to an
explication of the ways in which these options operate, their
relative advantages and weaknesses, the interdependence between
them… It is in these discussions of current problems and
institutions, however, that I find the book most rewarding. His
basic point, that there exists a symbiosis between exit and voice,
is certainly valid and significant. Its importance gets driven home
by the way Hirschman applies the idea to various current issues.
One emerges from the book feeling he has obtained a new analytic
insight into policy questions which can be applied again and
again.
*Public Policy*
Professor Hirschman’s small book is bursting with new ideas. The
economist has typically assumed that dissatisfaction with an
organization’s product is met by withdrawal of demand, while the
political scientist thinks rather of the protests possible within
the organization. Hirschman argues that both processes are at work
and demonstrates beautifully by analysis and example that their
interaction has surprising implications, a theory that illuminates
strikingly many important economic and political phenomena of the
day. The whole argument is developed with an extraordinary richness
of reference to many societies and cultures.
*Kenneth J. Arrow*
There is, of course, no substitute for a mind as original, playful,
subtle, and fresh as Hirschman’s.
*Stanley Hoffmann*
This is a marvelously perceptive essay which illuminates some of
the most interesting economic and social questions of our time. I
have read it with enormous interest and admiration, and the further
pleasure that one has in being with an author who can think things
through.
*John Kenneth Galbraith*
I read Exit, Voice, and Loyalty with absolute fascination and found
that it pulled together, in organized form, many random glimmerings
that I had previously understood only dimly.
*Joseph Kraft*
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