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Index
Cover
Halftitle
Title
Copyright
Contents
List of illustrations
Notes on contributors
1 Introduction: co-ordination and capabilities
2 George Richardson’s career and the literature of economics
Introduction
Richardson’s path to economics
The research co-ordination problem
The limited impact of Richardson’s work
Was Debreu the cause of Information and Investment’s failure to take off in the 1960s?
Networks, institutions and academic search processes
Conclusion
3 Some principles of economic organisation
The need for co-ordination
The invisible hand
A cardinal principle of economic organisation
The need for co-operation
The need for direction
Direction: its scope and limits
The firm as a microeconomy
Pricing within a firm
Communications, scale and structure
A summary of the argument so far
The costs of consolidation
Other functions of the firm
4 Co-operation and competition paradoxes in the theory of the organisation of industry
Introduction
Information, knowledge and industrial co-ordination
The nature of the firm and the paradox of co-operation
The nature of industry and the paradox of competition
Conclusion
5 Marshall, Andrews and Richardson on markets: an interpretation
Introduction
General Economic Equilibrium: agents and markets
Agents and markets in a Marshallian perspective
Individual agents in Andrews and Richardson
Global markets in Andrews and Richardson
Conclusion
6 Information and investment in a wider context
Introduction
Richardson’s criticism of general equilibrium
The origins of the problem of knowledge
Attempts to mend the model: the Marshallian elements
The defence of cartelisation
The planned economy
Considerations from the wider literature
Conclusion
7 Information and co-ordination in an effective competitive process: Downie’s evolutionary model as a means of resolving Richardson’s problem with competition in the context of post-Marshallian economics
Introduction
Downie’s population ecology of the industry
Richardson’s competitive process
An alternative welfare economics
Conclusion
8 Austrian and post-Marshallian economics: the bridging work of George Richardson
Introduction
Marshall, the post-Marshallians and Austrian economics
George Richardson: Marshallian answers to Austrian problems
Austrian and post-Marshallian economics: the theory of the firm
Conclusion
9 The concept of capabilities
Introduction
The division of labour and the organisation of knowledge
Direct ‘knowledge how’
Indirect ‘knowledge how’
Competitive advantage
Capabilities in decision-making
The evolution of capabilities
10 Capabilities and the theory of the firm
Introduction
Production costs I: Pigovian price theory
Transaction costs
Modern transaction-cost theory
Production costs redux: capabilities
11 Information costs and the organisational structure of the multinational enterprise
Introduction
General principles
Meta-rationality: minimising the risk of mistakes
Decisiveness, consultation and the internal balance of power
The quality of information
Applications to the multinational enterprise
12 Clusters of collaboration: the firm, join ventures, alliances and clubs
Introduction
The evolution of collaborative activity
The evolution of collaboration in the diversified firm
The evolution of strategic business alliances
Conclusions
13 Limits to a firm’s rate of growth: the Richardsonian view and its contemporary empirical significance
Introduction
Richardson’s view on restraints to growth
Contemporary evidence on limits to a firm’s growth
Limits to small-firm growth: the trade-off relationship
Conclusion
14 Information, similar and complementary assets, and innovation policy
Introduction
Information and innovation
Information, similarity and complementarity
Innovation and industry maturity
Conclusion
Index
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