The Vanishing Hand: The Changing Dynamics of Industrial Capitalism

By Richard N. Langlois. 2003

734 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/8d1d3cf77268cd3908714272a201d9fbf9a2c413

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Citations in the corpus

DYNAMICS OF INDUSTRY AND INNOVATION: ORGANIZATIONS, NETWORKS AND SYSTEMS (2005, neutral): “Richard Nelson observed back in 1959 that basic research generated many spillovers, and that firms who funded this research had only limited ability to appropriate value from these spillovers (Nelson, 1959).”
Designing the Boundaries of the Firm: From Make, Buy, or Ally to the Dynamic Benefits of Vertical Architecture (2006, neutral): “Fashion Inc., a “traditionally vertically integrated” firm, gradually instituted permeable vertical boundaries and allowed its units to both make and buy, as well as transfer downstream or sell.”
Innovation Capability: From Technology Development to Transaction Capability (2012, background): “The enterprise can legally exist, but to be a firm, it has to “deliver the most utility to ultimate consumers at the lowest cost” (Langlois, 2003, p. 355).”
Between autonomy and control: Strategies of arbitrage in the “on-demand” economy (2018, background): “More recently, however, economist Richard Langlois (2002, 2012) has argued that the “visible hand” of the traditional firm is giving way to a “vanishing hand” in globally distributed production.”
China’s innovation system and the move towards harmonious growth and endogenous innovation (2006, background): “Network formation is crucial for the improvement of interactive learning by augmenting and mediating ‘complementary’ but not ‘similar’ innovative activities (Saxenian 1996; Baldwin and Clark 1997; Langlois 2003).”
A man on the inside: Unlocking communities as complementary assets (2006, background): “To do this, we argue, managers must find new ways to conceptualize the ‘postChandlerian firm’ where innovation proceeds along less hierarchical lines (Langlois, 2003) since “the network of relationships between the firm and its external environment can play an important role in shaping performance” ”
Towards a theory of ecosystems (2018, neutral): “As Baldwin (2008), Langlois (2003), and This, in turn, arises due to different types of complementarities.”
Limits to Modularity: Reflections on Recent Developments in Chip Design (2005, background): “…Finally, while 7 The term ‘‘market modularity’’ is problematic, as it ignores market imperfections and uncertainty and the resultant coordination dilemmas analyzed by transaction cost economics (Coase, 1937; Williamson, 1985) and resource-based economics (Penrose, 1959/1995; Richardson, 1960/1990).”
Open innovation: current status and research opportunities (2017, positive): “Langlois (2003) notes that the rapid rate of technological change in the postwar era – and the attendant market disruption of existing firms and their capabilities – have created distributed opportunities for innovation and entry that incumbents can only harness via collaboration.”
Roepke Lecture in Economic Geography Venture Capital in the “Periphery”: The New Argonauts, Global Search, and Local Institution Building (2008, background): “This standardization so drastically reduces the volume of information that is required for interfirm coordination that products can be decomposed into distinct and further decomposable modules, each produced in virtual isolation from the others (Langlois 2003, 374; Sturgeon 2002).”