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The Republic of Entrepreneurs: A Global History of Discovery, Diffusion, and Growth

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  • Heng-fu Zou

    (Institute for Advanced Study, Wuhan University
    World Bank)

Abstract

We propose a historical political-economy of the republic of entrepreneurs: a civic order where open entry, impersonal law, price signals, and lawful imitation convert dispersed conjectures into growth. Grounded in the Mises-Hayek-Kirzner view (monetary calculation, dispersed knowledge, entrepreneurial discovery) and spanning cases from antiquity to Industry 4.0, we show prosperity tracks proposal density, feedback speed, and dif fusion breadth-not elite R&D alone. Reframing Schumpeter, sustained enrichment is chiefly creative accumulation under general rules. Policy follows: protect the commons of discovery-general rules, interoperable standards, contestable markets, and IP that teaches and expires.

Suggested Citation

  • Heng-fu Zou, 2025. "The Republic of Entrepreneurs: A Global History of Discovery, Diffusion, and Growth," CEMA Working Papers 801, China Economics and Management Academy, Central University of Finance and Economics.
    • Handle: RePEc:cuf:wpaper:801
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    References listed on IDEAS

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