Economic Organization, Capabilities and Coordination

G.B. Richardson is often thought of as the ‘founding father’ of the theory of the firm or market. His work has given insights into key issues and debates such as markets versus hierarchies, price stability, the economics of information and the concept of competition based uopn differentiated firms. Yet whilst he is often quoted, few people are familiar with his original work. Drawn from a recent colloquium held in his honour, the papers in this volume tie in with the themes central in G.B. Richardson’s work, addressing their significance, their relationship to the work of other economists and their potential for further development. The first few chapters cover themes related to the comparative neglect of Richardson’s work, such as the links with a Marshallian school and the connection with Austrian thinking. Later chapters go on to discuss modern thinking on the theory of the firm, connections between economic and management approaches, as well as applications of the ‘Richardson model’ on collaborative arrangements, the growth of the firm and innovation policy. Crucially, the book also includes a recent essay by G.B. Richardson himself, which clearly shows the continuing development of his ideas. This collection aims to encourage further development of Richardson’s themes. It will make excellent reading for students looking at the capability or competence approach to the firm, and for all those wishing to get to know the work of this important economist. Richard Arena, Universite de Nice-Sophia Antipolis; Mark Casson, University of Reading, UK; Claire Charbit, Ecole Nationale Superieure des Telecommunications, Paris, France; Pe