It can also be seen in a much larger context. We present a model that incorporates this overall argument in the form of a series of hypothesized relationships between different dimensions of social capital and the main mechanisms and proces. The Death and Life of Great American Cities was described by The New York Times as perhaps the most influential single work in the history of town planning. In this article we seek to contribute to this body of work by developing the following arguments: (1) social capital facilitates the creation of new intellectual capital (2) organizations, as institutional settings, are conducive to the development of high levels of social capital and (3) it is because of their more dense social capital that firms, within certain limits, have an advantage over markets in creating and sharing intellectual capital. By carefully examining their relevance in her 1961 book, The Death and Life of Great American Cities, Jacobs dismantles these arguments by highlighting. Typically, researchers see such organizational advantage as accruing from the particular capabilities organizations have for creating and sharing knowledge. Abstract: Scholars of the theory of the firm have begun to emphasize the sources and conditions of what has been described as “the organizational advantage,” rather than focus on the causes and consequences of market failure.
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