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innovation bloc into their study of spontaneous market order. We demonstrate how successful entrepreneurship depends on an … innovation bloc of this kind, a system of innovation that evolves and within which activity takes place through time. The … innovation bloc consists of five pools of economic skills from which people are drawn or recruited to form part of a …
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The surplus that is created in a successful entrepreneurial venture is much higher than the profit corresponding to the risk-adjusted market rate of return. The part of the surplus that exceeds this level may be denoted "entrepreneurial rent." Such rents normally disappear in the long run but...
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Although institutional reforms are necessary to increase rates of entrepreneurship in European countries, we argue that one-size-fits-all reform strategies are unlikely to be successful. Reform strategies must be informed by a better knowledge of the varieties of European capitalism and the...
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strong performance in technological innovation. …
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