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Allen was born in Kenilworth, Warwickshire, on the 28 June 1900. He was educated at King Henry VIII School in Coventry and at the University of Birmingham. In 1922 he went to Japan as a Lecturer in Economics at the Higher Commercial College there. He stayed till 1925. From 1929 to 1933 he was a Research Fellow and Lecturer in the Faculty of Commerce at University College Hull. He was then appointed Brunner Professor of Economic Science at the University of Liverpool, 1933-1947. From 1947 to 1967 he was Professor of Political Economy at University College London. Allen was temporary Assistant Secretary of the Board of Trade from 1941 to 1944, and a member of the Central Price Regulation Committee 1944-1953. He was a member of the Monopolies (and Restrictive Practices) Commission from 1950 to 1962. His many publications were mainly concerned with Japanese and British industry and economic policy. Allen died on 31 July 1982.