NEIL KAY has been Professor of Business Economics in the Department of Economics at the University of Strathclyde since 1989 and previously was Reader in the Department of Economics, Heriot-Watt University from 1979-1989. He is author of The Innovating Firm: A Behavioural Theory of R & D (Macmillan 1979), The Evolving Firm: Strategy and Structure in Industrial Organisation (Macmillan 1982), The Emergent Firm: Knowledge, Ignorance and Surprise in Economic Organisation (Macmillan 1984) and Pattern in Corporate Evolution (Oxford University Press 1997).