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Firms, Markets and Economic Change

A dynamic Theory of Business Institutions

Firms, Markets and Economic Change by Richard N. Langlois
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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.
Taylor and Francis; June 2002
198 pages; ISBN 9781134804979
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Title: Firms, Markets and Economic Change
Author: Richard N. Langlois; Paul L. Robertson