via INET I by William Lazonick I January 31, 2020

Is the Most Unproductive Firm the Foundation of the Most Efficient Economy?

“Edith Penrose’s 1959 book, The Theory of the Growth of the Firm (TGF), fits the definition of a “classic”: a work that many cite but few have read. The view that I advance in this essay is that no one should be granted a Ph.D. in economics who has not read TGF and understood what this profound economist had to say.”…

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