The Growth of the Firm The Legacy of Edith Penrose

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  • Format: Paperback
  • Copyright: 2002-05-23
  • Publisher: Oxford University Press

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Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics. It has informed the currently dominant resource/knowledge-basedtheory of the firm. Penrose's contribution, however, extends to a great variety of areas, to include industry organization, strategic management, international business, human resource management, economics of innovation and technological change, history, methodology, macroeconomics, and much more.This volume builds on a special issue of Contributions to Political Economy, that celebrated forty years since Penrose's classic The Theory of the Growth of the Firm. It includes fourteen chapters by leading contributors on the aforementioned aspects of Penrose's work. This book celebrates Penrose's contribution to economics and management. Leading scholars (including such 'classic' names as Robin Marris and George Richardson), assess Penrose's contribution to economics, strategic management, industry organization, and more. Using a Penrosean lens, these authorsaddress the most important issues such as resource allocation and resource creation, co-ordination, innovation and growth. They cover topics ranging from the nature of the firm, firm growth, and strategy, to multinational firms, industry organization, innovation, and economic development. In sodoing, they make contributions to scholarship of the highest quality, with significant implications for business and government policy on competition, industry, and development.

Table of Contents

On the garden of Edith: some themes
C. Pitelis
Edith Elura Tilton Penrose: life, contribution and influence
P. Penrose
C. Pitelis
Mrs Penrose and neoclassical theory
G. B. Richardson
The significance of Penrose's theory for the development of economics
B. J. Loasby
Edith Penrose and economics
R. Marris
Hercules and Penrose
N. Kay
The growth of new ventures: analysis after Penrose
E. Garnsey
A theory of the (growth of the) transnational firm: a Penrosean perspective
C. Pitelis
Edith Penrose: economics and strategic management
N.F. Foss
Edith T. Penrose and Ronald H. Coase on the nature of the firm and the nature of industry
J. T. Ravix
Regional growth dynamics: a capabilities perspective
M. H. Best
Mismatching by design: explaining the dynamics of innovative capabilities of the firm with a Penrosean mark
M. Turvani
Innovation, profits and growth: Penrose and Schumpeter
J. Cantwell
The US industrial corporation and The Theory of the Growth of the Firm
W. Lazonick
Management competence, firm growth and economic progress
S. Ghoshal
M. Hahn
P. Moran
Edith's garden and a glass half full: further issues
C. Pitelis
Index 321

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