- | F. A. Hayek Program F. A. Hayek Program
- | Corporate Welfare Corporate Welfare
- | Working Papers Working Papers
- |
Entangled Political Economy and the Two Faces of Entrepreneurship
Originally published in SSRN
This paper contrasts two forms of entrepreneurship genuine and parasitical -- within a framework of entangled political economy.
This paper contrasts two forms of entrepreneurship genuine and parasitical -- within a framework of entangled political economy. In 1911, Joseph Schumpeter described entrepreneurship as the locus of leadership within a capitalist economy. At that time state participation in economic activity was dramatically less than it is now. Entrepreneurship was largely free of political entanglement. After a century of governmental expansion, however, entrepreneurship has increasingly become entangled in parasitical political relationships. Where genuine entrepreneurship is a feature of a constitution of liberty, parasitical entrepreneurship is a feature of a constitution of control.
Read the whole article at SSRN.com.
To speak with a scholar or learn more on this topic, visit our contact page.
