1. Cluster Theory & Competition
... specialisation and comparative advantages stands in contrast to neoclassical economics of localisation leading to a competitive advantage. The dominant view in the post-World War II period rested on endowments of generic factors of production (e.g., natural resources, capital, labour). In this thinking, competition is driven by cost, and cost depends on the cost of inputs. The prescriptions are to accumulate factors and ... as a distinctive, which they dub Italianate. (View Appendix) We have previously mentioned Marshall's (1890) key components of localization. Mills (1992), who inciden...
- Word Count: 4507
- Approx Pages: 18
- Has Bibliography
- Grade Level: Undergraduate