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Beyond strategy: a critical review of Penrose’s ‘single argument’ and its implications for economic development

Blundel, Richard (2015). Beyond strategy: a critical review of Penrose’s ‘single argument’ and its implications for economic development. European Journal of the History of Economic Thought, 22(1) pp. 97–122.

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This paper offers a critical review of the ‘single argument’ that underpins Penrose’s (1959) study, The Theory of the Growth of the Firm (TGF) It aims to complement and counter-point recent examinations of Penrose’s influence on strategic management, and on the resource-based view (RBV) in particular, including Jacobsen’s (2011) study. The paper examines six components of the argument, tracing their inter-connected journey towards TGF’s relatively neglected final chapters, which address the economic consequences of the growth of large firms. It also reflects on the implications for economic development research, with reference to Penrose’s later (1992) critique of contemporary liberalisation policies.

Item Type: Journal Item
Copyright Holders: 2013 Routledge
ISSN: 1469-5936
Keywords: Edith Penrose; firms; growth; economic development
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Public Leadership and Social Enterprise
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Research Group: Innovation, Knowledge & Development research centre (IKD)
International Development & Inclusive Innovation
Related URLs:
Item ID: 34242
Depositing User: Richard Blundel
Date Deposited: 28 Aug 2012 12:52
Last Modified: 07 Dec 2018 12:06
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