We first summarize the dominant interpretations of the "frontier" in the United States and predecessor colonies over the past 400 years: agricultural (1610s-1880s), industrial (1890s-1930s), scientific (1940s-1980s), and algorithmic (1990s-present). We describe the difference between the...

This papers contrasts quot;invention-to-growthquot; policies derived from macroeconomic models with quot;opportunity-to-growthquot; policies suggested by consideration of microeconomic fundamentals. I focus on the effectiveness of opportunity exploitation by entrepreneurs relative to established...

This important collection comprises 24 previously published papers. These include foundational papers which offer an understanding of the conceptual and historical substructure of entrepreneurial finance and more recent seminal works about entrepreneurs and the obstacles that they systematically...

Manufacturing. Energy. Agriculture. In 1900, these were the industries of a still-young nation establishing itself as an emerging world power. Today, a century of accumulated innovation is creating new pathways of industrial advancement that would have been impossible to imagine a century ago....

In this essay, we begin by offering a definition and two examples of market creating innovation that provide a foundation for the historically informed theory that follows. With this definition and the examples in mind, we next assess the two dominant theories of development— essentially, the...

The existence of a fundamental relationship between invention, innovation, and economic growth, as insisted upon by Schumpeter, is increasingly taken as an article of faith in nations around the world. Yet the inventions-to-growth relationship is today more complex and less bounded at the scale...