IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v7y2000i3p377-406.html
   My bibliography  Save this article

Is post-Marshallian economics an evolutionary research tradition?

Author

Listed:
  • John Finch

Abstract

From the late 1940s to the early 1970s Andrews, Downie, Penrose and Richardson contributed to reassessments of Marshall's explanation of industrial organization. Each author emphasizes a particular aspect of industrial organization — internal and external organization, innovation, and cross-entry — and each elaborates Marshall's much discussed notion of evolutionary principles. Marshall sought coordination of developing knowledge and feared atrophy through concentration, drawing evidence from empirical studies of firms succeeding one another. The post-Marshallians undertook research in an age of larger joint stock companies, and drew conclusions, varying from optimistic to pessimistic, concerning the role of competition in shaping economic development.

Suggested Citation

  • John Finch, 2000. "Is post-Marshallian economics an evolutionary research tradition?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 7(3), pages 377-406.
    • Handle: RePEc:taf:eujhet:v:7:y:2000:i:3:p:377-406
    DOI: 10.1080/09672560050192116
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09672560050192116
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09672560050192116?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 462-463, October.
    2. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 465-467, October.
    3. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
    4. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58(3), pages 211-211.
    5. Geoffrey M. Hodgson, 1997. "The evolutionary and non-Darwinian economics of Joseph Schumpeter," Journal of Evolutionary Economics, Springer, vol. 7(2), pages 131-145.
    6. John Nightingale, 1997. "Anticipating Nelson and Winter: Jack Downie's theory of evolutionary economic change," Journal of Evolutionary Economics, Springer, vol. 7(2), pages 147-167.
    7. Loasby, Brian J, 1978. "Whatever Happened to Marshall's Theory of Value," Scottish Journal of Political Economy, Scottish Economic Society, vol. 25(1), pages 1-12, February.
    8. Dosi, Giovanni & Teece, David J. & Chytry, Josef (ed.), 1998. "Technology, Organization, and Competitiveness: Perspectives on Industrial and Corporate Change," OUP Catalogue, Oxford University Press, number 9780198290964.
    9. G. B. Richardson, 1964. "The Limits To A Firm'S Rate Of Growth," Oxford Economic Papers, Oxford University Press, vol. 16(1), pages 9-23.
    10. Lauchlin Currie & Roger Sandilands, 1997. "Implications of an Endogenous Theory of Growth in Allyn Young's Macroeconomic Concept of Increasing Returns," History of Political Economy, Duke University Press, vol. 29(3), pages 413-443, Fall.
    11. Alexander Dow & Sheila Dow & Alan Hutton, 1997. "The Scottish Political Economy Tradition and Modern Economics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(4), pages 368-383, September.
    12. Richard Nelson, 1995. "Co-evolution of Industry Structure, Technology and Supporting Institutions, and the Making of Comparative Advantage," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 2(2), pages 171-184.
    13. Charles P. Blitch, 1983. "Allyn Young on Increasing Returns," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(3), pages 359-372, March.
    14. Sheila C. Dow & Peter E. Earl (ed.), 1999. "Contingency, Complexity and the Theory of the Firm," Books, Edward Elgar Publishing, number 1884.
    15. n/a, 1997. "Book Review," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 143-145.
    16. G. B. Richardson, 1998. "The Economics of Imperfect Knowledge," Books, Edward Elgar Publishing, number 1524.
    17. Frederic S. Lee & Peter E. Earl (ed.), 1993. "The Economics of Competitive Enterprise," Books, Edward Elgar Publishing, number 279.
    18. Paul L. Robertson & Richard N. Langlois, 1994. "Institutions, Inertia, and Changing Industrial Leadership," Industrial Organization 9406005, University Library of Munich, Germany.
    19. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 467-468, October.
    20. Loasby, Brian J., 1998. "The organisation of capabilities," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 139-160, April.
    21. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    22. G. C. Harcourt, 1997. "Book Review," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(3), pages 590-591, September.
    23. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
    24. Stephen Pratten, 1998. "Marshall on Tendencies, Equilibrium, and the Statical Method," History of Political Economy, Duke University Press, vol. 30(1), pages 121-163, Spring.
    25. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 463-465, October.
    26. Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
    27. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 460-461, October.
    28. Hodgson, Geoffrey M, 1998. "On the Evolution of Thorstein Veblen's Evolutionary Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(4), pages 415-431, July.
    29. Richardson, G B, 1972. "The Organisation of Industry," Economic Journal, Royal Economic Society, vol. 82(327), pages 883-896, September.
    30. Dow, Alexander & Dow, Sheila & Hutton, Alan, 1997. "The Scottish Political Economy Tradition and Modern Economics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(4), pages 368-383, September.
    31. Nicolai J. Foss, 1997. "Equilibrium vs Evolution in the Resource-Based Perspective The Conflicting Legacies of Demsetz and Penrose," DRUID Working Papers 97-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    32. Unknown, 1997. "Book Review," Food Policy, Elsevier, vol. 22(5), pages 459-460, October.
    33. Shelia C. Dow & Peter E. Earl (ed.), 1999. "Economic Organization and Economic Knowledge," Books, Edward Elgar Publishing, number 1401.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Malcolm Rutherford, 2001. "Institutional Economics: Then and Now," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 173-194, Summer.
    2. Michael Best, 2012. "The Obscure Firm in the Wealth of Nations," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 2, Edward Elgar Publishing.
    3. John Finch & Nicola Dinnei, 2001. "Capturing Knightian Advantages of Large Business Organisations Through Group Decision-making Processes," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(3), pages 379-403.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. José G. VARGAS-HERNANDEZ, 2014. "Reflections on the Impact of the New Economic, Sociological and Historical Institutionalism in Institutional Social Policy," Journal of Economics and Political Economy, KSP Journals, vol. 1(2), pages 202-215, December.
    2. Zeelenberg, Marcel & van Dijk, Wilco W. & Manstead, Antony S. R., 2000. "Regret and Responsibility Resolved? Evaluating Ordonez and Connolly's (2000) Conclusions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 81(1), pages 143-154, January.
    3. John Finch & Nicola Dinnei, 2001. "Capturing Knightian Advantages of Large Business Organisations Through Group Decision-making Processes," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(3), pages 379-403.
    4. Groot, L.C.M., 2001. "Environmental uncertainty, corporate strategy, performance measurement and the creation of economic value," Serie Research Memoranda 013a, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    5. Brian Loasby, 2012. "Edith Penrose and George Richardson," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 18, Edward Elgar Publishing.
    6. Russell Smyth & Dic Lo, 2000. "Theories of the Firm and the Relationship between Different Perspectives on the Division of Labour," Review of Political Economy, Taylor & Francis Journals, vol. 12(3), pages 333-349.
    7. Davide Consoli & Pier Paolo Patrucco, 2011. "Complexity and the Coordination of Technological Knowledge: The Case of Innovation Platforms," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 8, Edward Elgar Publishing.
    8. Kapás, Judit, 1999. "Szükséges-e többdimenziós vállalatelmélet?. Az evolúciós vállalatelmélet kritikai összefoglalása [Is a multi-dimensional theory of the firm necessary?. A critical summary of the evolutionary theory," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 823-841.
    9. Finch, John H. & Macmillan, Fiona E. & Simpson, Graeme S., 2002. "On the diffusion of probabilistic investment appraisal and decision-making procedures in the UK's upstream oil and gas industry," Research Policy, Elsevier, vol. 31(6), pages 969-988, August.
    10. Brian Loasby, 2002. "Content and method: an epistemic perspective on some historical episodes," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(1), pages 72-95.
    11. Brendan Markey-Towler, 2016. "Law of the jungle: firm survival and price dynamics in evolutionary markets," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 655-696, July.
    12. Davide Consoli & Pier Paolo Patrucco, 2011. "Complexity and the Coordination of Technological Knowledge: The Case of Innovation Platforms," Chapters, in: Handbook on the Economic Complexity of Technological Change, chapter 8 Edward Elgar Publishing.
    13. Kim, Jongwook & Mahoney, Joseph T., 2008. "A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach," Working Papers 08-0108, University of Illinois at Urbana-Champaign, College of Business.
    14. Jeroen van den Bergh & John Gowdy, 2000. "Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(1), pages 37-57, September.
    15. Christos N. Pitelis, 2011. "Foreign Direct Investment and Economic Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 1, Edward Elgar Publishing.
    16. David Simpson, 2013. "The Rediscovery of Classical Economics," Books, Edward Elgar Publishing, number 15080.
    17. Cristiano Antonelli, 2011. "The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 1, Edward Elgar Publishing.
    18. Christos N. Pitelis & Pellumb Kelmendi, 2011. "European Industrial Policy: Perspectives, Trends and a Sustainability-focused New Framework," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume II, chapter 2, Edward Elgar Publishing.
    19. Filipe J. Sousa & Luis M. de Castro, 2004. "The strategic relevance of business relationships: a preliminary assessment," FEP Working Papers 163, Universidade do Porto, Faculdade de Economia do Porto.
    20. Roberto Cazzolla Gatti & Roger Koppl & Brian D. Fath & Stuart Kauffman & Wim Hordijk & Robert E. Ulanowicz, 2020. "On the emergence of ecological and economic niches," Journal of Bioeconomics, Springer, vol. 22(2), pages 99-127, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:7:y:2000:i:3:p:377-406. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.