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Series:   Elements in Evolutionary Economics

Entrepreneurship and Evolutionary Economics

Published online by Cambridge University Press:  04 February 2025

Per L. Bylund
Per L. Bylund
Affiliation:
Oklahoma State University

Summary

Entrepreneurship has been expunged from contemporary mainstream economics despite being an important driver and cause of economic development and growth. However, whereas Evolutionary Economics recognizes value-creative entrepreneurship, its role and impact tend to still be understated and the vast implications not fully understood. This Element attempts to remedy this by theorizing on how entrepreneurship impacts and drives market economies, the implications for economic change and renewal, and how the pursuit of new value creation determines the evolution of an economy. We find that allowing for entrepreneurial new value creation – innovative entrepreneurship – produces a different and more dynamic understanding of the market as a process, the role of knowledge and uncertainty, economic evolution and progress, as well as has important implications for political economy.
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Keywords

entrepreneurshipinnovationvalue creationmarket processeconomic growth
Type
Element
Information
Series: Elements in Evolutionary Economics
Online ISBN: 9781009540186
Publisher: Cambridge University Press
Print publication: 28 February 2025

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Entrepreneurship and Evolutionary Economics
  • Per L. Bylund, Oklahoma State University
  • Online ISBN: 9781009540186
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Entrepreneurship and Evolutionary Economics
  • Per L. Bylund, Oklahoma State University
  • Online ISBN: 9781009540186
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