- Title
- Innovation and Entrepreneurship
- Creator
- Courvisanos, Jerry; Mackenzie, Stuart
- Date
- 2013
- Type
- Text; Book chapter
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/159721
- Identifier
- vital:12032
- Identifier
- ISBN:9781461438588
- Abstract
- Entrepreneurship is an ambiguous concept unless it is contextualized. The focus in this entry is the role of the entrepreneur within the context of innovation. Thus, if a business activity is conducted under what Schumpeter (1939) calls “competitive capitalism,” then there is no Innovation and Entrepreneurship. Innovative activity and the market is operating as a pure neoclassical mechanism in which the “nirvana” of market efficiency in the allocation of goods and services is achieved. This is a static equilibrium position in which there is no change, no economic development, and no entrepreneurs to drive innovation. All that is needed are effi- cient business managers. As a result, in neoclassical economics, entrepreneurship is merely seen as agency in any form of business activity, including routine managers. This, in one fell swoop, conflates the original work of Schumpeter and his entrepreneur with the mainstream market conception of an entrepreneur who simply operates a business.
- Publisher
- Springer
- Relation
- Encyclopedia of Creativity, Invention, Innovation, and Entrepreneurship p. 933-943
- Rights
- This metadata is freely available under a CCO license
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