Does the French have a word for entrepreneur?

One study on entrepreneurship which compared rates of entrepreneurship between and among more than 1,200 pairs of identical and fraternal twins in the U.K and conclude that nearly half—48 percent—of an individual's propensity to become self-employed is genetic. (via PSD blog).

But that isn’t much of help for policy maker. I recommend reading the following primer by Israel Kirzner and Frederic Sautet- The Nature and Role of Entrepreneurship in markets: Implications for Policy;

“This Policy Primer explains the role entrepreneurship plays in markets and provides general recommendations for policy makers. The fundamental, policy-relevant ideas in this primer are twofold:

- Entrepreneurship is not a resource; it is the generation of socially-productive ideas which makes the use of resources possible. It is this generation of ideas and not the existence of resources that matters most to prosperity.

- The entrepreneurial discovery process drives resource allocation. In essence,
resources are allocated as a result of entrepreneurial activity. Policies can affect this process in different ways. The peril of regulation comes, not only because it disrupts the patterns of consumption and savings, but also, and primarily, because it stifles entrepreneurial discovery.”

Related: The Entrepreneurial Economist and the Red Queen Game

Pages

Powered by Movable Type 5.02

About this Entry

This page contains a single entry by Paul published on June 15, 2006 1:14 AM.

The Chinese Exception was the previous entry in this blog.

The Hedonic Treadmill is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.