WORKSHOP
The Department of Economics invites you to the workshop “Edith's Garden” Seventy Years Later: Penrose and the Organizational Economy of the Market” which will take place on June 17 and time 14:00–15:30, in Kosmas Psychopedi Hall (416), at the Gryparion Hall (1 Sofokleous, Athens, 4th floor).
- Presenter:
Christos Pitelis, Professor Emeritus, Economics & Strategy Founder MBA in Strategic Management
National and Kapodistrian University of Athens
- Abstracts:
Edith Penrose reinvented, unified, and developed classical economic thought, bringing back to the forefront the production, value creation, and dynamic nature of the firm. Her most important contribution was the theory of the endogenous growth of the firm through human learning, one of the most influential ideas of the second half of the twentieth century. Her approach influenced virtually every subsequent development in business theory, strategic management, entrepreneurship, and the study of market organizational economics.
At the same time, the interest of classical economic theory in the production, creation and appropriation of value gradually shifted towards organizational economics and business strategy, while neoclassical economics focused mainly on the exchange and efficient allocation of scarce resources. However, phenomena such as learning, increasing returns to scale and the creation of resources under real business conditions are difficult to reconcile with the assumptions of neoclassical theory. The paper examines the enduring importance of Penrose for understanding modern business and the organizational economy of the market.
Live streaming of the event: https://delos.uoa.gr/opendelos/search-live
Organizers: Dimitris Kainourgios, Professor
George Dotsis, Professor
Frago Kuranti, Associate Professor
Thank you.
Department of Economics, University of Athens, Greece
