Edith Elura Tilton Penrose was an American-born British economist whose best known work is The Theory of the Growth of the Firm, which describes the ways which firms grow and how fast they do.
11 Facts About Edith Penrose
Edith Penrose Tilton was born on 29 November 1914 at Sunset Boulevard in Los Angeles.
Edith Penrose received a bachelor's degree in 1936 from the University of California at Berkeley.
Edith Penrose moved to Baltimore, and took her MA and PhD under the supervision of Fritz Machlup at Johns Hopkins University.
In 1984 Edith Penrose received an honorary doctorate from the Faculty of Social Sciences at Uppsala University, Sweden.
Dr Edith Penrose was a lecturer and research associate at Johns Hopkins University for many years.
Edith Penrose became involved in a number of academic and public bodies including the Monopolies Commission and was elected a fellow of the Royal Commonwealth Society in 1985.
At age 64, Edith Penrose retired from SOAS and took up a position as professor of political economy at INSEAD in Fontainebleau, France.
Edith Penrose came to the conclusion that the existing theory of the firm was inadequate to explain how firms grow.
Edith Penrose's insight was to realize that the 'Firm' in theory is not the same thing as 'flesh and blood' organizations that businessmen call firms.
Edith Penrose is considered to be the first economist who posited what has become known as the Resource-based view of the firm.