The Future of the Global Corporation: From Fortress Firms to Cambrian Corporations

What might be the future of “the innovative global corporation”? There has been a profound evolution of the corporation over the past 100 years. Corporations have, willingly or unwillingly, developed an ever‐greater macro and micro role in societies. In many parts of the world, they have become more powerful and wealthy than governments, and their global influence, by any account, is massive. As engines of economic growth, innovation, and technological progress, they have brought much good to humanity. © 2015 Wiley Periodicals, Inc.     

When economic growth is less than exponential

This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. Moreover, it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustration that a continuum of “regular” growth processes fill the whole range between exponential growth and complete stagnation.