Capitalist Entrepreneurship
Making Profit through the Unmaking of Economic Orders
Bibliographic Data
| ID | 8246744 |
|---|---|
| Authors | Thorbjørn Knudsen (0000-0003-2798-7485, University of Southern Denmark, corresponding author), Richard Swedberg (0000-0003-0635-0581, Cornell University) |
| Year | 2009 |
| Volume | 4 |
| Issue | 2 |
| Publication date | 2009-01-08 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Capitalism and Society (JOURNAL) |
| Journal identifiers | ISSN: 1932-0213 • E-ISSN: 2194-6140 |
| Publisher | Walter de Gruyter GmbH (PUBLISHER • DE) |
| DOI | 10.2202/1932-0213.1057 |
| OpenAlex | W2000207497 |
| Language | EN |
| Citations received | 5 |
| References cited | 17 |
This is a theoretical paper in which we attempt to present an economic and sociological the-ory of entrepreneurship. We start from Schumpeter’s idea in Theory of Economic Development that the economy can be conceptualized as a combination and innovations as new combinations. Schumpeter also spoke of resistance to entrepreneurship. By linking the ideas of combination and resistance, we are in a position to suggest a theory of capitalist entrepreneurship. An existing combination, we propose, can be understood as a social formation with its own cohesion and re-sistance – what may be called an economic order. Actors know how to act; and profit is low and even in these orders. Entrepreneurship, in contrast, breaks them up by creating new ways of doing things and, in doing so, produces entrepreneurial profit. This profit inspires imitators until a new order for how to do things has been established; and profit has become low and even once more. Entrepreneurship is defined as the act of creating a new combination that ends one economic order and clears the way for a new one. The implications of this approach for a number of topics related to entrepreneurship are also discussed
Classical economics · Cohesion (chemistry · Economic system · Economics · Entrepreneurship · For profit · Neoclassical economics · Order (exchange · Positive economics · Profit (economics · Resistance (ecology · Sociology · Economic Theory and Institutions · Entrepreneurship Studies and Influences · Political Economy and Marxism
The Collective Dynamics of Belief
Evolution in Mendelian Populations
Exploration and Exploitation in Organizational Learning
Rational choice and the structure of the environment.
An evolutionary theory of economic change
L'économie des conventions, méthodes et résultats
Business cycles
Theorie der wirtschaftlichen Entwicklung
Economy and Society
A Behavioral Model of Rational Choice
Convention
The Economics of Convention
Schumpeter 1911
Economics of Convention and New Economic Sociology
Three Fragments From a Sociologist's Notebooks
| Citations per year | 0.28 |
|---|---|
| Citation span | 2008 - 2019 (12) |
| Highly cited | No |