The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Multinational Corporations

  • Edith Penrose
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1036

Abstract

After World War II economists began to notice that direct private foreign investment seemed to be increasingly associated with the expansion of very large firms, mostly, but not entirely, form the United States and that this phenomenon was attracting considerable political criticism. Some economists, early called ‘institutionalists’, had long been concerned with the study of the firm as an economic organization but the main stream of economic theorists had paid scant attention to it, concentrated as they were on the theory of prices and the allocation of resources.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Edith Penrose
    • 1
  1. 1.