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The Open, Evolving Economy: Alfred Marshall on Knowledge, Management and Innovation

In: Innovation, Economic Growth and the Firm

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  • Stanley J. Metcalfe

Abstract

This book addresses the foundations of economic growth at the firm level, combining both theoretical and econometric contributions by established scholars. Challenging contributions revisit Marshall’s view on the management of innovation, investigate the decision of firms to venture into entrepreneurship and clarify some misunderstanding about Schumpeter’s ideas. The book goes on to shed light on the classical specialisation-flexibility trade-off and provides a vision on the role of the knowledge-based economy and firm networks in technology development. Firm survival and performance, price-cost margins and the determinants of research intensity are also investigated econometrically.

Suggested Citation

  • Stanley J. Metcalfe, 2010. "The Open, Evolving Economy: Alfred Marshall on Knowledge, Management and Innovation," Chapters, in: Jean-Luc Gaffard & Evens Salies (ed.), Innovation, Economic Growth and the Firm, chapter 1, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13101_1
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    References listed on IDEAS

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    1. Brian J. Loasby, 1989. "The Mind and Method of the Economist," Books, Edward Elgar Publishing, number 288.
    2. Peter Newman, 1960. "The Erosion of Marshall's Theory of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(4), pages 587-600.
    3. Hodgson, Geoffrey M, 1993. "The Mecca of Alfred Marshall," Economic Journal, Royal Economic Society, vol. 103(417), pages 406-415, March.
    4. Franco Malerba & Luigi Orsenigo, 2002. "Innovation and market structure in the dynamics of the pharmaceutical industry and biotechnology: towards a history-friendly model," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(4), pages 667-703, August.
    5. Malerba, Franco & Nelson, Richard & Orsenigo, Luigi & Winter, Sidney, 2001. "Competition and industrial policies in a 'history friendly' model of the evolution of the computer industry," International Journal of Industrial Organization, Elsevier, vol. 19(5), pages 635-664, April.
    6. 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.
    7. Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
    8. Peter Newman & J. N. Wolfe, 1961. "A Model for the Long-Run Theory of Value," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(1), pages 51-61.
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