Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose
Evolutionary economists have tended to assess firms and industries separately, neglecting the role of their interaction in the process of economic growth and development. We trace the separation of firms and industries to Marshall, whose industrial analysis by means of the representative firm forma...
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| Format: | Working Paper |
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Centre for Research in Applied Economics, Curtin Business School, Curtin University of Technology
2007
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| Online Access: | http://hdl.handle.net/20.500.11937/18023 |
| _version_ | 1848749625965543424 |
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| author | Bloch, Harry |
| author_facet | Bloch, Harry |
| author_sort | Bloch, Harry |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Evolutionary economists have tended to assess firms and industries separately, neglecting the role of their interaction in the process of economic growth and development. We trace the separation of firms and industries to Marshall, whose industrial analysis by means of the representative firm formalizes population thinking as ?thin? means of relating firms and industries. Penrose avoids the industry concept by focussing on heterogeneous firms, while Young and Steindl develop mundane explanations of firms? relations within groups, locating the impetus for growth in a poorly understood environment. We conclude that evolutionary economics should revisit firms? boundaries, not in the sense of explaining the existence of firms, but in a relating and communicating sense in which boundaries signify selective means of relations with others. |
| first_indexed | 2025-11-14T07:23:55Z |
| format | Working Paper |
| id | curtin-20.500.11937-18023 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:23:55Z |
| publishDate | 2007 |
| publisher | Centre for Research in Applied Economics, Curtin Business School, Curtin University of Technology |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-180232017-05-30T08:06:50Z Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose Bloch, Harry Marshallian economics external economies industries firms firms? boundaries Evolutionary economists have tended to assess firms and industries separately, neglecting the role of their interaction in the process of economic growth and development. We trace the separation of firms and industries to Marshall, whose industrial analysis by means of the representative firm formalizes population thinking as ?thin? means of relating firms and industries. Penrose avoids the industry concept by focussing on heterogeneous firms, while Young and Steindl develop mundane explanations of firms? relations within groups, locating the impetus for growth in a poorly understood environment. We conclude that evolutionary economics should revisit firms? boundaries, not in the sense of explaining the existence of firms, but in a relating and communicating sense in which boundaries signify selective means of relations with others. 2007 Working Paper http://hdl.handle.net/20.500.11937/18023 Centre for Research in Applied Economics, Curtin Business School, Curtin University of Technology fulltext |
| spellingShingle | Marshallian economics external economies industries firms firms? boundaries Bloch, Harry Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title | Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title_full | Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title_fullStr | Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title_full_unstemmed | Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title_short | Firms and industries in evolutionary economics: Lessons from Marshall, Young, Steindl and Penrose |
| title_sort | firms and industries in evolutionary economics: lessons from marshall, young, steindl and penrose |
| topic | Marshallian economics external economies industries firms firms? boundaries |
| url | http://hdl.handle.net/20.500.11937/18023 |