Whatever happened to Marshall's industrial economics?

Tiziano Raffaelli

The European Journal of the History of Economic Thought, 2004, vol. 11, issue 2, 209-229

Abstract: Industry and Trade and the works on industrial economics by the Cambridge school - Chapman, Macgregor, Robertson, Lavington, A. Robinson and Florence - are usually neglected as if they were devoid of theoretical relevance. By contrast, the author argues that Marshall's evolutionary model, centred on the continuous interplay between innovation and standardization, inspired original research on localization, business size, coordination costs and industrial combinations. The paper also suggests that Marshallian ideas on the growth of firms and the structure of industrial organization are coming back in contemporary evolutionary theories of the firm.

Keywords: The Cambridge School; industrial organization; coordination costs; business size; innovation; standardization (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/0967256042000209251

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