This book presents for the first time a careful selection of David Teece's most important writings on the theory of the firm and its implications for economic performance. After a biographical introduction which sheds new light on his research programme, the book focuses on key areas, including:-the nature of the firm and dynamic capabilitiesdiversification and vertical integrationinternal organization and economic performanceinternational scope, alliances and joint venturesThe volume also includes an extensive introduction which provides a biographical insight into the development of the author's career and his continuing research into the areas the articles in this volume exlore. David Teece's style of writing is succinct and logical and the material presented in this volume, and its companion Strategy, Technology and Public Policy, will be of great interest to economists, managers, consultants and policy makers.