An innovator in contemporary thought on economic and political development looks here at decline rather than growth. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations.

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