The economics of the world's petroleum industry are outlined, the nature and significance of the large international firm are described, and the history of the oil industry, the operation of the major oil companies, prices in the industry, and the economics of developing countries are all covered.

Oil revenues have made Libya rich since 1961, when oil exports began. This new wealth has affected all sectors of the economy and especially the agricultural sector; there have been considerable movements of population, changes in the use of land, and, possibly most important, there has been a profound change in the expectations of the Libyan people. Agriculture was the major contributor to GDP before oil and even in 1968 it was still the major sector in terms of employment, occupying 32 per cent of the employed population; as such it has always been given prominence in government planning. This study begins by introducing the major economic and geographical features relevant to agricultural development and examines the extension of agricultural activity in the twentieth century, prior to independence in 1951. The later chapters deal with the changes which have taken place since the discovery of oil with respect to land use in all parts of Libya, and deals in detail with agricultural investment and wages. First published in 1973.

This book is a study of the economics of the large international firm, but is at the same time a study of one of the world's most important industries. International firms face difficult problems in attempting to deal with the conflicts between their own interest as world-wide economic organisations on the one hand, that of the countries in which they operate on the other, and with the conflicts of interest among the countries which are related to the international policies of the firms. The author analyses the underlying problems and points to possible solutions. When it was first published this was the first book by a professional economist to look widely at the economics of the international petroleum industry outside the industrialized countries.

Published in 1971: At first glance it might seem that the three subjects dealt with in the essays written over the last twenty years and now collected in this volume could hardly be more diverse, beginning with the growth of the firm and moving from the international petroleum industry to the Middle East generally. Oddly enough, however, these subjects are connected by the same type of historical logic that characterizes the diversification of an industrial firm: the logic in the simple principle that one thing leads to another.

Published in 1971: At first glance it might seem that the three subjects dealt with in the essays written over the last twenty years and now collected in this volume could hardly be more diverse, beginning with the growth of the firm and moving from the international petroleum industry to the Middle East generally. Oddly enough, however, these subjects are connected by the same type of historical logic that characterizes the diversification of an industrial firm: the logic in the simple principle that one thing leads to another.

This book is a study of the economics of the large international firm, but is at the same time a study of one of the world s most important industries. International firms face difficult problems in attempting to deal with the conflicts between their own interest as world-wide economic organisations on the one hand, that of the countries in which they operate on the other, and with the conflicts of interest among the countries which are related to the international policies of the firms. The author analyses the underlying problems and points to possible solutions. When it was first published this was the first book by a professional economist to look widely at the economics of the international petroleum industry outside the industrialized countries.

Oil revenues have made Libya rich since 1961, when oil exports began. This new wealth has affected all sectors of the economy and especially the agricultural sector; there have been considerable movements of population, changes in the use of land, and, possibly most important, there has been a profound change in the expectations of the Libyan people. Agriculture was the major contributor to GDP before oil and even in 1968 it was still the major sector in terms of employment, occupying 32 per cent of the employed population; as such it has always been given prominence in government planning. This study begins by introducing the major economic and geographical features relevant to agricultural development and examines the extension of agricultural activity in the twentieth century, prior to independence in 1951. The later chapters deal with the changes which have taken place since the discovery of oil with respect to land use in all parts of Libya, and deals in detail with agricultural investment and wages. First published in 1973.

2013 Reprint of 1959 American Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. This edition reprints the text from the 1959 First Edition originally published by Wiley. Why do some firms perform better than others? What enables a firm to grow and take advantage of its opportunities? Currently much discussion of these questions pivots around the ideas of competencies and capabilities, and the concept of the learning organization or knowledge-creating company. "The Theory of the Growth of the Firm" is a rich and pioneering work that addresses these questions and laid the foundation for this approach often referred to as the "resource based view of the firm." Edith Penrose analyzes managerial activities and decisions, organizational routines, and knowledge creation within the company and argues that they are critical to the ability of a firm to grow. This work has become a classic business book and remains relevant to this day.

There are not many books that are genuine classics, and only a handful in business and management whose insights and ideas last for 50 years and more. This book is one of the very few "must reads" for anybody seriously interested in the role of management within the firm.
Originally published in 1959, The Theory of the Growth of the Firm has illuminated and inspired thinking in strategy, entrepreneurship, knowledge creation, and innovation. Edith Penrose's tightly-argued classic laid the foundations for the resource based view of the firm, now the dominant framework in business strategy. She analyses managerial activities and decisions, organizational routines, and also the factors that inevitably limit a firm's growth prospects.
For this new anniversary edition, Christos Pitelis has written a new introduction which both tells the story of Penrose's extraordinary life, and provides a balanced assessment of her key ideas and their continuing relevance and freshness.