Re-Understanding Entrepreneurship: What It Is and Why It Matters (Paperback) (ISBN-13: 9781009453363)

How do entrepreneurs make decisions in the real world? Why are entrepreneurs absent from mainstream economics? What functions do entrepreneurs play in the market? What type of institutional environment is needed for entrepreneurship to play a role? Neoclassical economics is a market theory without entrepreneurship. This misconception distorts our understanding of how the real market works, leading to a theory of market failure that forms the common foundation of various government interventions. The market is not only an allocative process but, more importantly, a discovery and creative process. To understand the real market, Weiying Zhang argues that economics must shift from a price-centric to an entrepreneur-centric paradigm. Blending theory and narrative, Zhang intersects history with the present supporting his theory with relevant case studies. He argues that once entrepreneurship in the market is correctly understood, the foundation for government intervention is undermined and the economy can sustainably flourish.

Author: Weiying Zhang
ISBN-10: 100945336X
ISBN-13: 9781009453363
Publisher: Cambridge University Press
Language: English
Published: 05/02/2024
Pages: 377
Format: Paperback
Weight: 1.11lbs
Size: 9.00h x 6.00w x 0.78d