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Restless Capitalism and the economizing entrepreneur

Magnus Holmén (Institutionen för teknikens ekonomi och organisation, Innovationsteknik) ; Maureen McKelvey
Economics of Innovation and New Technology (1043-8599). Vol. 22 (2013), 7, p. 684-701.
[Artikel, refereegranskad vetenskaplig]

This paper explains why capitalistic economies are restless by focusing on the role and the activities by entrepreneurs. The linkage between the entrepreneur and the economy is that as knowledge is a scarce resource, entrepreneurs must economize knowledge to reduce uncertainty if they are to undertake entrepreneurial action. Fortunately, ways of lowering uncertainty are important sources of opportunities for entrepreneurs. How- ever, the exploitation of such sources may in turn increase uncertainty in the economy. Thus, entrepreneurial action reduces and regenerates uncertainty and complexity over time across different dimensions in the economic system. The paper argues that these processes are core mechanisms of economic development, creating interdependencies between the entrepreneur and the economic system.

Nyckelord: capitalism; entrepreneurs; knowledge; uncertainty

Denna post skapades 2013-06-27. Senast ändrad 2016-07-04.
CPL Pubid: 179351


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Institutioner (Chalmers)

Institutionen för teknikens ekonomi och organisation, Innovationsteknik (2005-2016)
Institutionen för ekonomi och samhälle, Innovation and Entrepreneurship (IIE) (GU)


Ekonomi och näringsliv

Chalmers infrastruktur