Concluding Remarks

  • Fabrizio Traù


6.1 This book has made an attempt to explain the long-run changes in the size pattern of business firms in terms of the important changes which have affected the international macroeconomic environment since the late 1960s. We have argued that relevant discontinuities in macroeconomic conditions have brought about a radical change in the perception of the external business context by people in charge of the administration of firms, leading to a re-shaping of the organization of production activities. In this connection the last quarter of the twentieth century saw the re-emergence of a way of organizing production and trade based on a high degree of division of labour among firms (rather than within them). This phenomenon reflects a major reversal with respect to what had only thirty years earlier appeared to be the only possible form of development of the industrial system: namely, the primacy of large-scale business organizations characterized by a high degree of both vertical and conglomerate integration.


Cost Curve Macroeconomic Condition Size Pattern Market Uncertainty Size Trend 
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Copyright information

© Fabrizio Traù 2003

Authors and Affiliations

  • Fabrizio Traù
    • 1
    • 2
  1. 1.Research Department of the Confederation of Italian IndustriesRomeItaly
  2. 2.Research Associate at the ECRC Centre for Business ResearchUniversity of CambridgeUK

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