The Microtheory of Innovative Entrepreneurship

Business & Finance, Economics, Theory of Economics, Entrepreneurship & Small Business, Entrepreneurship
Cover of the book The Microtheory of Innovative Entrepreneurship by William J. Baumol, Princeton University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: William J. Baumol ISBN: 9781400835225
Publisher: Princeton University Press Publication: July 1, 2010
Imprint: Princeton University Press Language: English
Author: William J. Baumol
ISBN: 9781400835225
Publisher: Princeton University Press
Publication: July 1, 2010
Imprint: Princeton University Press
Language: English

Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm.

William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneur's influential role in economic life. In doing so, he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics, and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneur's importance to economic growth and prosperity.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm.

William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneur's influential role in economic life. In doing so, he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics, and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneur's importance to economic growth and prosperity.

More books from Princeton University Press

Cover of the book The Imperative of Integration by William J. Baumol
Cover of the book When Is True Belief Knowledge? by William J. Baumol
Cover of the book Unlocking the Gates by William J. Baumol
Cover of the book Montaigne by William J. Baumol
Cover of the book Noir Urbanisms by William J. Baumol
Cover of the book Introduction to Modern Economic Growth by William J. Baumol
Cover of the book Collected Works of C.G. Jung, Volume 15 by William J. Baumol
Cover of the book After Every War by William J. Baumol
Cover of the book Racism by William J. Baumol
Cover of the book How Propaganda Works by William J. Baumol
Cover of the book The Faith of a Heretic by William J. Baumol
Cover of the book Getting Tough by William J. Baumol
Cover of the book Broken Lives by William J. Baumol
Cover of the book "They Can Live in the Desert but Nowhere Else" by William J. Baumol
Cover of the book On Bullshit by William J. Baumol
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy