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Date: | Fri Mar 31 17:18:30 2006 |
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================= HES POSTING =================
Oh, the beauty of searchable electronic texts!!
A quick search of Marshall's Principles of Economics on-line at
http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/marshall/ produced the
following -- the final paragraph in chapter 9 of Book IV. As Marshall
indicates in the last sentence, chapter 10 discusses external economies at
some length.
"We may divide the economies arising from an increase in the scale of
production of any kind of goods, into two classes -- firstly, those
dependent on the general development of the industry; and, secondly, those
dependent on the resources of the individual houses of business engaged in
it, on their organization and the efficiency of their management. We may
call the former external economies, and the latter internal economies. In
the present chapter we have been chiefly discussing internal economies;
but we now proceed to examine those very important external economies
which can often be secured by the concentration of many small businesses
of a similar character in particular localities: or, as is commonly said,
by the localization of industry."
So, can we take this notion back before Marshall?
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