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Nondestructive creation: Entrepreneurship and management research in the study of growth

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  • Hubbard, R. Glenn

Abstract

Economists' focus on institutions in explaining economic growth, while important, can obscure the significant role played by individual entrepreneurs and the process of entrepreneurship. The prevailing view of entrepreneurship in economics (which continues to shape prevailing public policies) centers on Schumpeter's famous concept of "creative destruction." In the context of sustained high levels of economic growth, as in the recent American experience, I focus on a different feature of entrepreneurship--"nondestructive creation," in which the uncoordinated contest of ideas and search for new applications of existing ideas generate growth. And this nondestructive creation should be analyzed and can be fostered.

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  • Hubbard, R. Glenn, 2008. "Nondestructive creation: Entrepreneurship and management research in the study of growth," Journal of Policy Modeling, Elsevier, vol. 30(4), pages 595-602.
  • Handle: RePEc:eee:jpolmo:v:30:y:2008:i:4:p:595-602
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    1. Nicholas Bloom & John Van Reenen, 2007. "Measuring and Explaining Management Practices Across Firms and Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 122(4), pages 1351-1408.
    2. Edward P. Lazear, 2004. "Balanced Skills and Entrepreneurship," American Economic Review, American Economic Association, vol. 94(2), pages 208-211, May.
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    Cited by:

    1. Congregado, Emilio & Golpe, Antonio A. & Carmona, Mónica, 2010. "Is it a good policy to promote self-employment for job creation? Evidence from Spain," Journal of Policy Modeling, Elsevier, vol. 32(6), pages 828-842, November.

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