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The story of flight

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  • John Kay

Abstract

The history of commercial aviation - from the earliest attempts at flight to the modern civil aircraft - is used to illustrate the central role of the evolutionary progress of collective knowledge in what is loosely described as technical progress. No individual knows how to build an airbus - ten thousand people working together do. The emphasis on collective intelligence as a means of solving problems builds on Penrose’s insight that the firm is best viewed a s a collection of capabilities to develop a template for the modern corporation that recognises the development of ‘capital as a service’ and the importance of ‘hollow corporations’, franchises and platforms in the twenty-first century economy.

Suggested Citation

  • John Kay, 2024. "The story of flight," International Review of Applied Economics, Taylor & Francis Journals, vol. 38(1-2), pages 90-103, March.
    • Handle: RePEc:taf:irapec:v:38:y:2024:i:1-2:p:90-103
    DOI: 10.1080/02692171.2023.2242016
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