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Whatever happened to Marshall's industrial economics?

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  • Tiziano Raffaelli

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.

Suggested Citation

  • Tiziano Raffaelli, 2004. "Whatever happened to Marshall's industrial economics?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 11(2), pages 209-229.
    • Handle: RePEc:taf:eujhet:v:11:y:2004:i:2:p:209-229
    DOI: 10.1080/0967256042000209251
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    References listed on IDEAS

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    Cited by:

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    2. Nishizawa, Tamotsu, 2004. "The Economics Tripos and the Marshallian School in the Making―With Special Reference to His Industrial Economics―," Economic Review, Hitotsubashi University, vol. 55(4), pages 358-378, October.

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