Method, Structure and Argument in Edith Penrose's Theory of Growth

Bibliographic Data

ID12229393
AuthorsCarol M Connell (0000-0001-9428-9535, Brooklyn College, corresponding author)
Year2009
Volume21
Issue4
Pages549-566
Publication date2009-10-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueReview of Political Economy (JOURNAL)
Journal identifiersISSN: 0953-8259 • E-ISSN: 1465-3982
PublisherTaylor & Francis (PUBLISHER • GB)
DOI10.1080/09538250903214842
OpenAlexW2007078344
LanguageEN
Citations received2
References cited17

Edith Penrose's The Theory of the Growth of the Firm proposed a process theory of growth based on the pursuit and coordination of knowledge. From 1956 to 1973, Penrose began to focus on large international firms operating in developing countries. She found government to be a continuous input to the growth process. We argue here that Penrose was a heterodox economist, who followed the methodological style and structure of her Austrian mentor Fritz Machlup, embraced the neoclassical case study method of Marshall, and articulated a viewpoint on international growth that is much in line with Roy Harrod, Maurice Bye and Charles Kindleberger, who devoted considerable attention to why governments find it necessary to impose restraints on how such firms invest in their economies. The background and development of Penrose's work has implications for theory and policy, specifically for the Resource-based view which recognizes Penrose as its founder

Argument (complex analysis · Economics · Government (linguistics · Growth theory · Neoclassical economics · Operations management · Process (computing · Process theory · Work in process · Computer Science · Economic Theory and Institutions · Economic Theory and Policy · Philosophy

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