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‘Circumspect vigilance’: reconsidering the implications of Edith Penrose’s single argument for sustainable economic development

Blundel, Richard (2014). ‘Circumspect vigilance’: reconsidering the implications of Edith Penrose’s single argument for sustainable economic development. In: Edith Penrose Centenary Conference, 14-15 Nov 2014, SOAS, University of London.

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The paper conducts a critical review of the ‘single argument’ that underpins Penrose’s (1959) study, The Theory of the Growth of the Firm (TGF). It summarises six components of the argument, tracing their inter-connected journey towards TGF’s two relatively neglected concluding chapters. In doing so, it highlights Penrose’s broader concern with the economic and social consequences of the unconstrained growth of large firms. This theme is developed through a reflection on the ways in which Penrose’s extended argument can be applied in contemporary economic development research. This section builds on insights from research that extends the Penrosean learning dynamic to incorporate inter-organisational relationships and regional growth dynamics. It re-examines Penrose’s subsequent critiques of M-form organisations and of economic liberalisation policies in developing countries and opens up a discussion about the ways these disparate ideas might be combined to inform policy debates in areas such as inclusive innovation and environmentally sustainable economic growth.

Item Type: Conference or Workshop Item
Copyright Holders: 2014 Not known
Keywords: Edith Penrose; growth process; firms; entrepreneurship; economic development; sustainable development; political economy
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
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Item ID: 41152
Depositing User: Richard Blundel
Date Deposited: 20 Oct 2014 08:07
Last Modified: 07 Dec 2018 21:57
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