The new economy [or "center economy"] is composed of firms large in size and influence. Its organizations are corporate and bureaucratic; its product… - Robert T. Averitt

Given a choice between efficiency and employment, most economists favor efficiency.

[[The largest corporations] present a spongy target to possible attacks by environmental enemies. Their strongest protection against future threat comes from having successfully met past threats. When the demand for a major commodity falters, center firms can concentrate their energies on other products while experimenting with new lines. When a new technology portends revolutionary potential for home industries, center firms use their financial and technical resources to embrace it. If raw material prices began to rise, center firms can integrate backward, and supply themselves. When rising labor costs pose a substantial threat, automation, cybernation or self-service may provide long-run relief, depending on the industry. Expensive production labor must now contend with easily financed capital substitution in industries where center firms dwell.

The other economy [or "periphery economy"] is populated by relatively small firms. These enterprises are the ones usually dominated by a single individual or family. The firm's sales are realized in restricted markets. Profits and retained ... Techniques of production and marketing are rarely as up to date as those in the center.