Liberty's Unfinished Business: How to Eliminate Political Barriers to Global Entrepreneurship
Year: 2018
Type: preprint
Abstract: Unleashing entrepreneurship is a global imperative, evidenced by worldwide governmental passion for classifying and measuring entrepreneurship, and by a mounting consensus that excessive entry regulation and other impediments dampen entrepreneurial innovation. This chapter provides an overview and assessment of what available contemporary theory and evidence have to say about the linkages between government regulation in the marketplace and entrepreneurial activity—and reviews what we do not know and perhaps cannot measure. Countries can learn from both the good institutions that have allowed other nations to prosper, as well as mistakes those nations have made. Policymakers’ task—and that of entrepreneurs themselves—is to affirmatively reduce existing and avoid new administrative and regulatory constraints beyond the foundations for maintenance of rule of law and sustaining property rights. This chapter details policy prescriptions elevating economic freedom that would promote entrepreneurship, as well as cautions against excessive zeal in “promoting” entrepreneurship via political means. Classically liberal Constitutions may not rescue global entrepreneurship in the short run, but incremental steps today can lay groundwork helping to unleash Liberty’s Unfinished Business. Importantly, along with governments, the entrepreneurial/business sector itself has an urgent, still-unappreciated role to play.
Source: SSRN Electronic Journal
Author: Clyde Wayne Crews
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3179471334