ABSTRACT
In the history of capitalism new firms and industries have frequently been innovative in their social, as well as their technical, organization, so as to facilitate the realization of their technical potential. Central to the understanding of any industry is the relationship between its technology and its economic characteristics. This is a two-way relationship: the form of the technology and the trajectory of its development both shape and are shaped by the economic circumstances of the industry. Industry is not simply a technical or purely economic field; it also has a social dimension, not just in its external social impact, but in its internal organization: a firm is a set of social relations. Again their character both shapes and is shaped by the immediate technology and economic circumstances of the firm and the wider socio-economic and cultural milieux. The chapter also presents an overview of the key concepts discussed in this book.
