My main purpose is to connect the issue of property rights to the set of questions concerning economic growth and the long-term determinants of the improvements in material well-being. To anticipate what will be my main conclusion, it is that property rights and economic growth are not...

High-growth firms (HGFs) are critical for net job creation and economic growth. We analyze HGFs using the theory of competence blocs, linking firm growth to property rights and the interaction of complementary expertise. Specifically, we discuss how the institutional framework affects the...

This essay argues that the economic contribution of certain firms – be they small, young or rapidly growing – has to be understood in a broader context of creative destruction. Growth of some firms requires contraction and exit of some other firms to free up resources that can be reallocated...