Small Business in the Modern Economy is a collection of essays based on the 1994- F. de Vries lectures held at the Erasmus University, Rotterdam. The authors of this volume discuss the changing role of small firms in the modern economy from different angles: ? Bo Carllson pays attention to the introduction of flexible automation and how this change of technology has resulted in a decrease in the size of firms ? Zoltan Acs argues that small firms play an important role in the experimental phase of innovations in product and access.

? Roy Thurik mentions in his contribution a series of trade-offs between favourable and negative effect of economies of scale and scope.

The authors provide statistical information about the production activities of large and small firms. The evidence points without exception in the same direction. They agree on the conclusion that in the recent years the small firm has become more important as employer and producer.