If entrepreneurship remains as important to the economy as ever, then the continuing failure of mainstream economics to adequately account for entrepreneurship indicates that fundamental principles require re-evaluation. It seems no longer possible to expect that only theoretical refinements and...

The principal argument examined is that entrepreneurs help to form innovative industrial clusters and spark regional competitive advantage. First, a model of the role of entrepreneurs in cluster formation is presented. An illustrative example of the model is then presented in the form of an...