Edith Penrose

Picture of Edith Penrose

Date of Birth: 11/15/1914

Age: 81

Place of birth: Los Angeles

Citizenship: United Kingdom


Edith Penrose (full name - Edith Elura Tilton Penrose) was born in 1914 in Los Angeles (Los Angeles, California), USA. Bachelor`s degree, she received in 1936, the University of California at Berkeley (University of California at Berkeley). In the same 36th she married David Burton Denhardt`s (David Burton Denhardt), which, unfortunately, died only two years later, at the time of the incident on the hunt. Edith was left without a husband and young son. She moved to Baltimore (Baltimore), where he soon received a first master`s degree and later a doctorate at Johns Hopkins University (Johns Hopkins University). In 1945 Edith married a second time for the Ernest F. Penrose (Ernest F. Penrose), British economist and writer, who, incidentally, bylee professor at Berkeley (Berkeley). Edith herself was arranged to work in the US Embassy in London (American Embassy in London), after she began to lecture at Johns Hopkins universtitet.

Her first book, `The economy of the international patent sistemy` (The Economics of the International Patent System), was published in 1951.

In 1959 Penrose published a paper in which she tried to solve one of the most complex mysteries of the economy - why firms diversify their activities? So, when companies are developing a new product that the company in its own market can not be used, then the company is required to go out with him on a new market. Logically, Penrose wondered - why not just sell the secret of production of a new product? Penrose herself answered this question very original, blaming market in the inability to properly evaluate new products and technologies and ideas. Addressing she saw in the establishment of its own production and sales system.

Book `The Theory of the Growth of the Firm` Edith brought recognition and forced to pay attention to her well-known theorists in economics.

It is known that the couple Penrose, worked for many years at Hopkins, were forced to take a long sabbatical and to go out of the country due to political disagreements. At that time, they worked in the Australian Australian National University, as well as in Asia, at the University of Baghdad (Baghdad University). By the way, in Baghdad Edith firmly took up investigations of oil companies, releasing in 1968 the book `The Large International Firm in Developing Countries: The International Petroleum Industry`.

In 1970 came `New Orientations: Essays in International Relations`, her next book,` Iraq: International Relations and National Development`, was published in 1978.

At the age of 64 years, Edith received a professorship in political economy Institut Europeen d`Administration des Affaires at Fontainebleau in France (Fontainebleau, France). Her husband died in 1984, after which she returned to Britain, settling in Cambridgeshire (Cambridgeshire).

On the death of Edith Penrose October 11, 1996 edition reported `The Guardian` and` The Independent`.