Edith Penrose podcast

This is from Economics in Ten podcast, season eight, episode two. Season 8 of Economics in Ten has the theme “The Economists’ Economist”: each episode, a well-known living economist nominates their favourite economist from history. Diane Coyle’s nomination is Edith Penrose, who developed the Resource Based View (RBV) of the firm, the idea that firms grow based on the unique bundle of resources and capabilities they hold rather than simply responding to market conditions. It’s a slightly more theoretical episode but Penrose’s ideas slot nicely into teaching on why firms grow and what shapes their objectives, and Coyle’s genuine enthusiasm for her subject is infectious. Worth noting that Penrose was a woman working in mid-20th century economics, which gives a nice angle for discussing whose voices have historically shaped the discipline. It goes slightly beyond standard spec content, so best positioned as an extension listen, particularly for students studying business behaviour topics.  Listen here