Edith Penrose was a major figure in economics and also played a key role in the field of management and business. Penrose is best known for her classic book The Theory of the Growth of the Firm, originally published in 1959, but she also made major contributions in other fields, including patents, the oil industry and development economics.
As described by Adjepong-Boateng and Oughton in their article, Penrose was appointed Professor of Economics at SOAS University of London, where an annual lecture series has been inaugurated in her honour. This double issue of the International Review of Applied Economics publishes the contributions from three of these Penrose lecturers, along with a range of articles from other academics who explore various aspects of Penrosian economics.
Together, these articles represent a compelling testament to the continued relevance of Penrose’s key messages, around the importance of managerial capabilities; of knowledge, learning and innovation; and the development of organisational capacity and firm growth.