An Introduction to Entrepreneurship

Description

Entrepreneurs play a pivotal role in boosting progress, productivity and prosperity. They drive economic growth and create new opportunities. Their innovations transform people’s lives. Yet their enormous contribution is not widely understood – and is often completely overlooked in economics textbooks. Here, author Eamonn Butler sets the record straight – explaining the vital role of entrepreneurship, exploring its economic and social significance, and examining the conditions needed for it to thrive. Along the way, he considers the kind of “unusual” people who become entrepreneurs. Who knew, for example, that Facebook’s Mark Zuckerberg, Microsoft founder Bill Gates, Apple co-founder Steve Jobs and Uber founder Travis Kalanick all dropped out of university? Or that Virgin Group founder Sir Richard Branson and IKEA founder Ingvar Kampgrad never went to university at all? An introduction to Entrepreneurship spotlights the strengths of entrepreneurship, whilst acknowledging its shortcomings. It discusses (often-misguided) attempts by governments to foster it. And it eloquently states the case for rehabilitating entrepreneurship into mainstream economics and politics. Above all, it provides an appreciation of – and a basic introduction to – what entrepreneurship is, why we need it, and how we can encourage it. Chapter1 _GoBack About the author About the AIER 1 Introduction What this book is about Who this book is for Entrepreneurship and the author Structure of the book 2 Why care about entrepreneurship? The unseen factor of production Innovation and economic growth How to promote entrepreneurship Encouraging experimentation How economists neglect entrepreneurship The importance of competition Entrepreneurship and diversity 3 Different views of entrepreneurship Structures, roles, personalities Firm size and entrepreneurship Kinds of entrepreneur Entrepreneurs are unusual people The entrepreneurial mind Sociological factors 4 The economic role of entrepreneurship Economics and uncertainty The textbook model The entrepreneur as creative disruptor The entrepreneur as discoverer Entrepreneurs as information processors Entrepreneurs and uncertainty Entrepreneurs and judgement 5 The importance of entrepreneurship Economic benefits Rising productivity Human benefits Social benefits The social role of profit 6 The spread of entrepreneurship Global presence Country similarities and differences Developing countries Entrepreneurship and migration Industries suited to entrepreneurship The future of entrepreneurship 7 Productive and unproductive entrepreneurship Is entrepreneurship always productive? Productive, unproductive and destructive The crucial effect of rules Manipulating the rules Occupational licensing The rise of political entrepreneurship Entrepreneurship and institutions 8 Can government promote entrepreneurship? The Boulevard of Broken Dreams Other strategies Why politicians get involved Public investment vehicles For and against government intervention Setting the right climate Objective-led encouragement? Lessons from experience 9 The entrepreneurial environment Why is the US so entrepreneurial? Wealth, freedom and culture Permissionless innovation The importance of taxation The regulatory burden The right conditions The importance of management The lessons References About the IEA