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Restless capitalism and the economizing entrepreneur
Chalmers University of Technology, Gothenburg, Sweden.ORCID iD: 0000-0002-0560-7392
University of Gothenburg, Gothenburg, Sweden.
2013 (English)In: Economics of Innovation and New Technology, ISSN 1043-8599, E-ISSN 1476-8364, Vol. 22, no 7, p. 684-701Article in journal (Refereed) Published
Abstract [en]

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. However, 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. © 2013 Taylor & Francis.

Place, publisher, year, edition, pages
Abingdon: Routledge, 2013. Vol. 22, no 7, p. 684-701
Keywords [en]
capitalism, entrepreneurs, knowledge, uncertainty
National Category
Economics
Identifiers
URN: urn:nbn:se:hh:diva-36465DOI: 10.1080/10438599.2013.795780Scopus ID: 2-s2.0-84888006310OAI: oai:DiVA.org:hh-36465DiVA, id: diva2:1191519
Available from: 2018-03-19 Created: 2018-03-19 Last updated: 2018-03-19Bibliographically approved

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Holmén, Magnus

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  • nn-NB
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  • Other locale
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Output format
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