Richard N. Langlois

Paul L. Robertson

Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it.

A dynamic Theory of Business Institutions

Firms, Markets and Economic Change

Co-winner of the 2006 Schumpeter Prize of the International Joseph A. Schumpeter Society.This book explains the shift of the organizational landscape away from vertically integrated firms and towards more specialized entities connected by markets and networks. In doing so, it places in a larger theoretical framework the work of Joseph Schumpeter an

Schumpeter, Chandler, and the New Economy

Dynamics of Industrial Capitalism

Tony Fu-Lai Yu

This text provides a range of fundamental readings embracing the economics of firm behaviour from a non-neoclassical perspective. The collection covers several basic topics including: the importance of transaction costs and agency theory for the analysis of firm behaviour; capabilities and resource-based theories of the firm; the economics of firm strategy; behavioural theories; Austrian theories; evolutionary theories; and the historical development of firms. The readings include selections from traditional masters as well as writings by more recent authors. This collection should be of value to both scholars who want a summary of developments in the field and to students of industrial economics and corporate strategy.

Richard N. Langlois

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