From the Entrepreneurial to the Ossified Economy: Evidence, Explanations and a New Perspective

Arbeitspapier

Entrepreneurship in advanced economies is in decline. This comes as a surprise: many scholars have anticipated an upsurge in entrepreneurship, and expected an "entrepreneurial economy" to replace the post-WW2 "managed" economy. Instead of the "entrepreneurial economy" what has come into being may perhaps better be labelled the "ossified economy." This paper starts by document the decline. It then critically presents the current explanations offered in the literature. While having merit, these explanations are proximate and supply-side oriented. Given these shortcomings, this paper contributes a new perspective: it argues that negative scale effects from rising complexity, as well as long-run changes in aggregate demand due to inequality and rising energy costs, are also responsible. Implications for entrepreneurship scholarship are drawn.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: GLO Discussion Paper ; No. 539

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence ; Technological Change: Choices and Consequences; Diffusion Processes ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Macroeconomics: Consumption; Saving; Wealth ; Aggregate Factor Income Distribution
• Thema: Entrepreneurship ; start-ups ; development ; economic complexity ; growth theory

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Naudé, Wim
• Ereignis: Veröffentlichung
• (wer): Global Labor Organization (GLO)
• (wo): Essen
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/216899
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ