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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 to...
Persistent link: https://www.econbiz.de/10010320338
Persistent link: https://www.econbiz.de/10003917623
Among contemporary economists, Mariana Mazzucato stands out for her emphasis on the importance of innovation to solve … pressing challenges and achieve a greater quality of life. However, the type of mission-oriented innovation policies she … promotes usually rely on an overly mechanical view of innovation and economic growth. We employ an ecosystem perspective to …
Persistent link: https://www.econbiz.de/10012625817
We are grateful for the comments to our article, and for the opportunity to respond to them. In our original contribution, we argued that the application of the EOE perspective could help make Austrian economics more concrete, relevant and persuasive, especially regarding policy prescriptions....
Persistent link: https://www.econbiz.de/10012021764
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 …
Persistent link: https://www.econbiz.de/10011868369
In this paper entrepreneurs are defined as agents who bring about economic change by combining their own effort with other factors of production in search of economic rents. The institutional setup is argued to determine both the supply and direction of entrepreneurial activity. Four key...
Persistent link: https://www.econbiz.de/10010320095
Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key ac-tors who use their competencies in...
Persistent link: https://www.econbiz.de/10010320262
Public policy is currently shifting from SME policy towards entrepreneurship policy, which supports entrepreneurship without directing attention to quantitative goals and specific firms or employment groups. The institutional framework set by public policy affects the prevalence and performance...
Persistent link: https://www.econbiz.de/10010320341
-impact entrepreneurship. -- Entrepreneurship ; gazelles ; high-growth firms ; high-impact entrepreneurship innovation ; institutions ; labor …
Persistent link: https://www.econbiz.de/10003948634
capitalism ; Entrepreneurship ; Flyers ; Gazelles ; High-growth firms ; Industrial policy ; Innovation ; Institutions ; Labor …
Persistent link: https://www.econbiz.de/10003723937