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Firms, Markets and Economic Change: A dynamic Theory of Business Institutions
 
 
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Firms, Markets and Economic Change: A dynamic Theory of Business Institutions [Paperback]

Richard N. Langlois (Author), Paul L. Robertson (Author)

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Book Description

0415123852 978-0415123853 July 30, 1995 1
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.

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Inside This Book (learn more)
First Sentence:
Holmstrom and Tirole (1989, p. 65) have recently outlined criteria that a theory of the firm must meet, criteria that apply to other types of organizations as well. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
idiosyncratic synergy, ancillary capabilities, dynamic transaction costs, idiosyncratic capabilities, autonomous innovation, systemic innovation, ownership integration, external capabilities, intrinsic core, governance costs, replacement demand, microcomputer industry, vertical disintegration
Key Phrases - Capitalized Phrases (CAPs): (learn more)
General Motors, United States, Third Italy, Silicon Valley, Henry Ford, Ford Motor Company, Adam Smith, Innovative Networks, Fisher Body, William Lazonick
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