p 149
“
A firm is essentially a pool of resources the utilization of which is organized in an administrative framework.
— Edith Penrose
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "A firm is essentially a pool of resources the utilization of which is organized in an administrative framework." in the context of "p 149" to mean that wisdom is timeless.
Source: Wikiquote: "Edith Penrose" (Quotes, The Theory of the Growth of the Firm, 1959: Edith T. Penrose (1959), The theory of the growth of the firm, Cambridge, MA.)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
About Edith Penrose
Edith Elura Tilton Penrose (November 15, 1914 – October 11, 1996) was an American-born British economist, whose best known work is The Theory of the Growth of the Firm (1959), which describes the ways which firms grow and how fast they do.
About Edith Penrose
Edith Elura Tilton Penrose (November 15, 1914 – October 11, 1996) was an American-born British economist, whose best known work is The Theory of the Growth of the Firm (1959), which describes the ways which firms grow and how fast they do.
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