Two Oxford economists influenced the general orientation of the subject of industrial economics at Oxford during the last part of the twentieth century.
Donald Hay’s and Derek Morris’s roles in Oxford economics are often associated with their landmark textbook, Industrial Economics: Theory and Evidence, which is considered as important historical evidence regarding the evolution of industrial economics. The increasing weight of new microeconomics at Oxford is seen as highly influential in the theoretical generalisations made by the discipline, which moved further away from the hitherto empirical approach to the firm.
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