▁collect ive ▁and ▁cum ulative ▁learning ▁drive ▁the ▁process ▁of ▁economic ▁development , ▁with ▁well - develop ed ▁mark ets ▁in ▁land , ▁labor , ▁fin ance , ▁and ▁products ▁as ▁out comes . ▁Indeed , ▁he ▁arg ues ▁that ▁when ▁these ▁mark ets ▁gain ▁a ▁pre ponder ant ▁influence ▁in ▁direct ing ▁the ▁allocation ▁of ▁resources ▁in ▁the ▁economy , ▁they ▁und erm ine ▁the ▁organizations ▁– ▁family ▁households , ▁government ▁ag encies , ▁and ▁business ▁enter pr ises ▁– ▁upon ▁which ▁we ▁depend ▁for ▁the ▁invest ments ▁in ▁product ive ▁capabilities ▁that ▁under pin ▁stable ▁and ▁equ itable ▁economic ▁growth . ▁ ▁This ▁perspective ▁on ▁the ▁relation ▁between ▁organizations ▁and ▁mark ets ▁in ▁determ ining ▁economic ▁performance ▁provides ▁an ▁analyt ical ▁framework ▁for ▁form ulating ▁policies ▁that ▁support ▁innov ative ▁enter prise ▁and ▁reg ulate ▁hyper active ▁mark ets . ▁ ▁L azon ick ' s ▁work ▁on ▁the ▁theory ▁of ▁innov ative ▁enter prise ▁builds ▁on ▁the ▁intellectual ▁leg a cies ▁of ▁Karl ▁Marx , ▁Alfred ▁Marshall , ▁Joseph ▁A . ▁Sch ump eter , ▁Ed ith ▁T . ▁Pen rose , ▁and ▁Alfred ▁D . ▁Ch and ler , ▁Jr . ▁ ▁In ▁ 2 0 1 2 , ▁with ▁David ▁J . ▁Te e ce , ▁L azon ick ▁edited ▁the ▁volume ▁Management ▁In nov ation : ▁Ess ays ▁in ▁the ▁Spirit ▁of ▁Alfred ▁D . ▁Ch and ler , ▁Jr . ▁( O x ford ▁University ▁Press ). ▁ ▁L azon ick ▁is ▁co - organ izer