Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Entrepreneurship-Philanthropy Nexus: Nonmarket Source of American Entrepreneurial Capitalism

Contents:

Author Info

  • Zoltan J. Acs

    ()

  • David Audretsch

    ()

  • Ronnie J. Phillips
  • Sameeksha Desai

    ()

Abstract

What differentiates American capitalism from all other forms of industrial capitalism is a historical focus on both the creation of wealth (entrepreneurship) and the reconstitution of wealth (philanthropy). Philanthropy has been part of the implicit American social contract that continuously nurtures and revitalizes economic prosperity. Much of the new wealth created historically has been given back to the community to build many of the great social institutions that have paved the way for future economic growth. This entrepreneurship-philanthropy nexus has not been fully explored by either economists or the general public. The purpose of this paper is to suggest that American philanthropists—particularly those who have made their own fortunes—create foundations that, in turn, contribute to greater and more widespread economic prosperity through knowledge creation. Analyzing philanthropy sheds light on our current understanding of how economic development has occurred, as well as the roots of American economic dominance.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: ftp://papers.econ.mpg.de/egp/discussionpapers/2007-09.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group in its series Papers on Entrepreneurship, Growth and Public Policy with number 2007-09.

as in new window
Length: 30 pages
Date of creation: Feb 2007
Date of revision:
Handle: RePEc:esi:egpdis:2007-09

Contact details of provider:
Postal: Kahlaische Strasse 10, D-07745 Jena
Phone: +49-3641-68 65
Fax: +49-3641-68 69 90
Web page: http://www.econ.mpg.de/
More information through EDIRC

Order Information:
Email:
Web: http://www.econ.mpg.de/english/research/EGP/discuss.php

Related research

Keywords: entrepreneurship; philanthropy; capitalism; knowledge;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  2. Gary S. Becker, 1974. "A Theory of Social Interactions," NBER Working Papers 0042, National Bureau of Economic Research, Inc.
  3. Randall K. Morck & David A. Strangeland & Bernard Yeung, 1998. "Inherited Wealth, Corporate Control and Economic Growth," William Davidson Institute Working Papers Series 209, William Davidson Institute at the University of Michigan.
  4. Catherine Armington & Zoltan Acs, 2002. "The Determinants of Regional Variation in New Firm Formation," Regional Studies, Taylor & Francis Journals, vol. 36(1), pages 33-45.
  5. Thomas Ireland, 1969. "The calculus of philanthropy," Public Choice, Springer, vol. 7(1), pages 23-31, September.
  6. Henrekson, Magnus & Jakobsson, Ulf, 2000. "Where Schumpeter was nearly Right - the Swedish Model and Capitalism, Socialism and Democracy," Working Paper Series in Economics and Finance 370, Stockholm School of Economics.
  7. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, vol. 13(1), pages 27-55, August.
  8. Frank G. Dickinson, 1970. "The Changing Position of Philanthropy in the American Economy," NBER Books, National Bureau of Economic Research, Inc, number dick70-1, July.
  9. Albert Danielsen, 1975. "A theory of exchange, philanthropy and appropriation," Public Choice, Springer, vol. 24(1), pages 13-26, December.
  10. Simon, Herbert A, 1993. "Altruism and Economics," American Economic Review, American Economic Association, vol. 83(2), pages 156-61, May.
  11. Sugden, Robert, 1982. "On the Economics of Philanthropy," Economic Journal, Royal Economic Society, vol. 92(366), pages 341-50, June.
  12. Kenneth E. Boulding, 1962. "Notes on a Theory of Philanthropy," NBER Chapters, in: Philanthropy and Public Policy, pages 57-72 National Bureau of Economic Research, Inc.
  13. Coase, R H, 1976. "Adam Smith's Views of Man," Journal of Law and Economics, University of Chicago Press, vol. 19(3), pages 529-46, October.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Zoltan J. Acs & Sameeksha Desai, 2007. "Democratic Capitalism and Philanthropy in a Global Economy," Jena Economic Research Papers 2007-056, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  2. Jean Bonnet & Thomas Brau, 2012. "L’entreprise innovante, un symbole pour son créateur," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201234, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
  3. Jean Bonnet & Thomas Brau & Antonia Guijarro Madrid, 2011. "Innovative entrepreneurship as a way to meet professional dissatisfactions," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201121, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:esi:egpdis:2007-09. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kerstin Schück).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.