By Kenneth. A. Tucker
First released in 1977. Routledge is an imprint of Taylor & Francis, an informa corporation.
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Additional info for Business History: Selected Readings
R. Parker of the Department of Economics, the University of Liverpool, for his critical comment and for permission to make use of material relating to Rothschild's thesis on the security motive. 2 Barry E. Supple, 'The Uses of Business History', Business History IV, 2, June 1962,81-90. 3 A. Fritz Redlich, 'Approaches to Business History', Business History Review, XXXVI, 1, Spring 1962, 66. This excellent paper gives wider interpretation to such questions. 4 T. S. Ashton, An Eighteenth Century Industrialist: Peter Stubs of Warrington 1756-1806 (1939, reprinted 1961).
J. Hitch 'Price Theory and Business Behaviour', Oxford Economic Papers, No. 2 (May 1939), 12-45. , see also W. J. Baumol, Economic Theory and Operations Analysis (1961). 192-205. 21 See Edith Penrose, Theory of the Growth of the Firm (1959), 184; also P. L. l, December 1962,18. 22 See A. H. Cole, Business Enterprise in its Social Setting (1959). In his Preface, xiii, Professor Arthur Cole emphasises this point. 'In fact, if economics takes on an evolutionary cast, there seems no area so central for the scientific handling of economic change - stagnation and decline as well as growth - with all relevant factors brought into the models, as entrepreneurial history - business administration dealing with economic forces over time within a framework of social institutions and cultural themes.
Two of the leading economists who have helped launch this new subdiscipline are Edith Tilton Penrose and William J. Baumol,14 As their books and articles make clear, they are developing a dynamic micro-theory which attempts by constructing models to understand various aspects of the process by which a firm grows. 1S Before Penrose and Baumol attacked this problem, theory of the firm focused upon such questions as the determination of prices or the level of output for the firm at a particular point or slice in time.
Business History: Selected Readings by Kenneth. A. Tucker