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...

Researchers increasingly recognize that entrepreneurial employees, intrapreneurs, play a critical role in innovation. As with regular entrepreneurship, however, the value of intrapreneurial activity depends on the firm-specific and societal reward structures that intrapreneurs face. Ideally,...

We identify an ambiguity surrounding institutions and entrepreneurship. While entrepreneurship creates social value at the economy level in the appropriate institutional environment, individual entrepreneurs may create or destroy value in any institutional environment. This raises the question:...