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Political Entrepreneurship and the Democratic Allocation of Economic Resources

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  • Holcombe, Randall G

Abstract

Political entrepreneurship occurs when an individual acts on a political profit opportunity. These profit opportunities can be divided into two categories: productive, and predatory. Productive opportunities enable entrepreneurs to profit from enhancing the efficiency of government, while predatory opportunities enable entrepreneurs to profit from forcibly transferring resources from some to others. This analysis shows that political institutions tend to favor predatory over productive political entrepreneurship, and shows that what is sometimes referred to as political exchange does not have the same efficiency characteristics as voluntary exchange in private markets. Copyright 2002 by Kluwer Academic Publishers

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  • Holcombe, Randall G, 2002. "Political Entrepreneurship and the Democratic Allocation of Economic Resources," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 15(2-3), pages 143-159, June.
  • Handle: RePEc:kap:revaec:v:15:y:2002:i:2-3:p:143-59
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    Cited by:

    1. Randall Holcombe, 2015. "Capital and labor, Past and present, in the context of Piketty’s Capital," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(2), pages 195-207, June.
    2. Anthony Evans, 2014. "A subjectivist’s solution to the limits of public choice," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 23-44, March.
    3. Gabriel A. Giménez-Roche, 2011. "Institutional Illusion and Financial Entrepreneurship in the European Debt Scheme," Chapters,in: Institutions in Crisis, chapter 1 Edward Elgar Publishing.
    4. Robin Douhan & Magnus Henrekson, 2010. "Entrepreneurship and second-best institutions: going beyond Baumol’s typology," Journal of Evolutionary Economics, Springer, vol. 20(4), pages 629-643, August.
    5. Hederer, Christian, 2007. "Political Entrepreneurship and Institutional Change: an Evolutionary Approach," MPRA Paper 8249, University Library of Munich, Germany.
    6. Klein, Peter G. & Bullock, J. Bruce, 2006. "Can Entrepreneurship Be Taught?," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(02), August.
    7. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2009. "Toward a Theory of Public Entrepreneurship," Working Papers 09-0106, University of Illinois at Urbana-Champaign, College of Business.
    8. Erkko Autio & Kun Fu, 2015. "Economic and political institutions and entry into formal and informal entrepreneurship," Asia Pacific Journal of Management, Springer, vol. 32(1), pages 67-94, March.
    9. Douhan, Robin & Henrekson, Magnus, 2008. "Productive and Destructive Entrepreneurship in a Political Economy Framework," Working Paper Series 761, Research Institute of Industrial Economics.
    10. Grossman, Peter Z., 2015. "Energy shocks, crises and the policy process: A review of theory and application," Energy Policy, Elsevier, vol. 77(C), pages 56-69.
    11. Douhan, Robin & Henrekson, Magnus, 2007. "The Political Economy of Entrepreneurship: An Introduction," Working Paper Series 688, Research Institute of Industrial Economics.
    12. Coyne, Christopher J., 2011. "Constitutions and crisis," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 351-357.
    13. Albert Link & Jamie R. Link, 2011. "Government as entrepreneur: examples from US technology policy," Chapters,in: Handbook on the Economic Complexity of Technological Change, chapter 20 Edward Elgar Publishing.
    14. Facchini, Francois, 2014. "The determinants of public spending: a survey in a methodological perspective," MPRA Paper 53006, University Library of Munich, Germany.
    15. Emily Chamlee-Wright & Virgil Storr, 2011. "Social capital, lobbying and community-based interest groups," Public Choice, Springer, vol. 149(1), pages 167-185, October.
    16. Diana Thomas & Michael Thomas, 2014. "Entrepreneurship: Catallactic and constitutional perspectives," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 11-22, March.
    17. Douhan, Robin & Henrekson, Magnus, 2007. "The Political Economy of Entrepreneurship," Working Paper Series 716, Research Institute of Industrial Economics.
    18. Adam Martin & Diana Thomas, 2013. "Two-tiered political entrepreneurship and the congressional committee system," Public Choice, Springer, vol. 154(1), pages 21-37, January.

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