Understanding entrepreneurship as alertness to potential profit opportunities and the activities involved with bringing those opportunities to life and public policy as laws, regulations, and activities of government, this volume analyzes the intersection of the two to show how public policy influences entrepreneurship. Using a mix of theoretical and applied research, the contributors argue that policies which incentivize productive entrepreneurship will advance economic well-being, but that the passage of such policies depends in large part on the availability and usage of economic knowledge by policymakers. If policymakers lack the relevant economic knowledge to achieve their desired outcomes, policies will be ineffective in incentivizing productive entrepreneurship.
Christopher J. Coyne is professor of economics at George Mason University and associate director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics, Mercatus Center at George Mason University.
Abigail R. Hall is associate professor of economics at the University of Tampa.
Eileen Norcross is vice president of policy research and a senior research fellow at the Mercatus Center at George Mason University.
Section I: How Public Policy Shapes Entrepreneurship in the Private Sector
Chapter 1: Framing Our Thinking About Entrepreneurship and Public Policy by Abigail R. Hall
Chapter 2: Moral Entrepreneurship: Integrating Equity within Antimicrobial Resistance Innovation by Ximena Benavides
Chapter 3: Successful Evasive Entrepreneurship: Nature or Circumstance? Three Case Studies in the Area of Health and Safety Regulation by Alexander Köhler
Chapter 4: Exploring the Persistent Effects of Racial Discrimination on Entrepreneurship and Growth by Olivia Gonzalez
Section II: Entrepreneurship in Civil Society and in Response to Crisis
Chapter 5: “Hot Money”: A Hayekian Process of Polycentric Public Entrepreneurship in Currency Formation in Great Depression North Carolina by Thomas Storrs
Chapter 6: Sub-Innovation: The Case of Fraccionamiento in Mexico by Carlos Noyola
Section III: Public Policy Entrepreneurship Within the Administrative State
Chapter 7: Exploring the Interplay of Taxation and Regulation in Institutional Arrangements by Dallin Overstreet
Chapter 8: Representation, Taxation, and Policy Entrepreneurship by Natalia Pushkareva
Chapter 9: Knowledge and the Efficacy of Energy Efficiency Programs by Arthur R. Wardle
Chapter 10: Majority Opinions and the Entrepreneurial Pursuit of Judicial Power by Christian McGuire
Chapter 11: Urban Deindustrialization and Its Discontents: A Commentary on the Social Policy Education of President Barack Obama by Michael Lachanski
Knowledge and Entrepreneurship in Public Policy summarizes and expands the frontier of the social science of entrepreneurship and public policy by presenting chapters from a diverse set of scholars who explore the ubiquitous role of entrepreneurs in society from the private sector to the administrative state. The volume achieves these gains by integrating the insights of the Austrian, Virginia, and Bloomington schools of political economy, and is essential reading for scholars interested in knowledge and entrepreneurship in modern society.
What an uplifting message Knowledge and Entrepreneurship provides its readers based on basic economic reasoning and empirical evidence. Human progress depends on the embrace of the entrepreneurial spirit, and this spirit of enterprise taps into the creative, clever and resourceful individuals who populate the economy, and discovery, utilize and disseminate the relevant knowledge. It is the public policies we adopt that either hinder or support productive specialization and peaceful social cooperation through exchange, and thus our the source of the wealth and poverty of nations. Hopefully the message of Knowledge and Entrepreneurship is read widely and absorbed into the common-knowledge of this generation and going forward.