The Growth of the Firm: The Legacy of Edith Penrose

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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, and informed the currently dominant, knowledge-based theory of the firm. 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 fifteen chapters by leading contributors on the aforementioned aspects of Penrose's work.
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Editorial Reviews

From the Publisher
"Fifteen papers ... focus on the life, contributions, and influence of Edith Penrose; Penrose and neoclassical theory; the significance of Penrose's theory for the development of economics; a constructive critique of the Penrose picture of the firm; Penrose's analysis of the growth process of the Hercules Powder Company in 1960 and the subsequent development of the company; the growth of new ventures; a Penrosean perspective on the theory of the growth of the transnational firm; Penrose, economics, and strategic management; Penrose and Ronald H. Coase on the nature of the firm and the nature of industry; a capabilities perspective on regional growth dynamics; features that are responsible for promoting and limiting the capability of firms to innovate; Penrose and Joseph Shumpeter on innovation, profits, and growth; the U.S. industrial corporation and The Theory of the Growth of the Firm; and management competence, firm growth, and economic progress."—Journal of Economic Literature
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Product Details

  • ISBN-13: 9780199244164
  • Publisher: Oxford University Press, USA
  • Publication date: 3/28/2002
  • Pages: 336
  • Product dimensions: 6.40 (w) x 9.30 (h) x 1.00 (d)

Meet the Author

Queen's College, Cambridge
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Table of Contents

1 On the garden of Edith: some themes 1
2 Edith Elura Tilton Penrose: life, contribution and influence 17
3 Mrs Penrose and neoclassical theory 37
4 The significance of Penrose's theory for the development of economics 45
5 Edith Penrose and economics 61
6 Hercules and Penrose 81
7 The growth of new ventures: analysis after Penrose 101
8 A theory of the (growth of the) transnational firm: a Penrosean perspective 127
9 Edith Penrose: economics and strategic management 147
10 Edith T. Penrose and Ronald H. Coase on the nature of the firm and the nature of industry 165
11 Regional growth dynamics: a capabilities perspective 179
12 Mismatching by design: explaining the dynamics of innovative capabilities of the firm with a Penrosean mark 195
13 Innovation, profits and growth: Penrose and Schumpeter 215
14 The US industrial corporation and The Theory of the Growth of the Firm 249
15 Management competence, firm growth and economic progress 279
16 Edith's garden and a glass half full: further issues 309
Index 321
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