Entrepreneurship is ultimately about the arrangement of resources into productive activities. Much of the entrepreneurship literature, however, has focused on the demand side of the market. While resource heterogeneity is a feature of many theories of the firm, such theories are not built on a...

Capitalism, characterized by private ownership, coordination through markets, and decentralization, is blamed for a variety of economic, environmental, and social ills. These critiques often confuse capitalism with cronyism, a system of government favoritism toward particular firms. We show how...