I contribute to the literature on public entrepreneurship and management by analyzing the role of the political entrepreneur in Frederick the Great's Anti-Machiavel. Frederick the Great (Frederick II of Prussia) is best known for turning Prussia into an international power during the mid- to...

Institutions play a vital role in allocating entrepreneurial talent in society. Specifically, the payoffs to different kinds of innovation influence the allocation of entrepreneurial talent between productive, unproductive, and destructive behavior. I apply this insight to the case of the...

The entrepreneurial function as just one factor of production is actually being the point of a depth discussion in entrepreneurship research. It could be the cause of some confusion which impeders theoretical developments and it also makes difficult the effectiveness of pro-entrepreneurial...

The Industrial Institute of Economic and Social Research (IUI) was founded in 1939. In less than ten years, IUI grew from a small survey bureau to a leading research institute focused on microeconomic research relevant to industrial development. Based on a number of new commemorative essays and...

The Industrial Institute for Economic and Social Research (IUI) was founded in 1939. In less than ten years, IUI grew from a small survey bureau to a leading research institute focused on microeconomic research relevant to industrial development. Based on a number of new commemorative essays and...

Frank Knight's theory of the entrepreneurial function in modern enterprise is explored in two contexts. The first is the dismissal of the neoclassical theory of business enterprise by Berle and Means in The Modern Corporation and Private Property, and their subsequent call for measures that...

We describe and discuss Ronald Coase's approach to managerial authority, placing it in the broader context of recent economics and management research on intrafirm coordination. To do so, we make use of work by Coase that is relatively little known, namely his writings on opportunity cost...

This chapter offers a retrospective account of Baumol's contribution in light of its influence on economics and entrepreneurship studies. The first section describes the core arguments of his original paper. The second section discusses its impact on the entrepreneurship discipline. Following...

Joseph Schumpeter lamented that capitalism would not survive because he thought that its defining process—creative destruction—would be overshadowed by large firms. Witnessing the emergence of rising numbers of increasingly large firms, Schumpeter did not think that those responsible for...

I briefly summarize my contributions to entrepreneurship theory, focusing on the links between contemporary entrepreneurship research, the “Austrian” understanding of markets and prices, and the economic theory of the firm. I articulate the “judgment-based approach” to entrepreneurial...