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Entrepreneurial Competition in the Pure Case: John Bloom and Jim Elkins

In: Critique of Entrepreneurship

Author

Listed:
  • Peter Armstrong

    (University of Leicester)

Abstract

For over a century, theorists in a variety of social scientific traditions have argued that trust is fundamental to the market economy. The original insight was due to Durkheim: ‘A contract is not sufficient unto itself but is possible only thanks to a regulation of the contract which is essentially social.’ (Durkheim, 1964, p. 203 ff.). This is so simply because a contract guarantees nothing without some wider normative pressure to honour contracts in general. The idea has since been resurrected within the idiom of functionalist sociology (Parsons and Smelser, 1956), economics (Arrow, 1975, McKean, 1975) and critical accounting (Noreen, 1988, Neu, 1991).

Suggested Citation

  • Peter Armstrong, 2005. "Entrepreneurial Competition in the Pure Case: John Bloom and Jim Elkins," Palgrave Macmillan Books, in: Critique of Entrepreneurship, chapter 2, pages 45-61, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-55495-5_2
    DOI: 10.1057/9780230554955_2
    as

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