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The Entrepreneurial Factor in Economic Growth - Harold Lydall

The Entrepreneurial Factor in Economic Growth

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The supply of entrepreneurship is a crucial factor in economic growth, although it is often overlooked in modern economic theory. The main reason for this oversight is that the theory is dominated by the model of perfect competition which, by assuming perfect knowledge, excludes any role for the entrepreneur. There may be imperfect knowledge of many things, including the qualities and prices of products, the qualities and price of factors of production, and technology. Whilst economic theory has given considerable attention to the first of these forms of imperfection, economists have done little about the other two. Yet all three are important in accounting for the role of the entrepreneur. In this book the author proposes two alternative models of entrepreneurial competition and discusses in detail the role of entrepreneurs and the factors influencing their supply. Harold Lydall is the author of "The Structure of Earnings", "A Theory of Income Distribution" and "Yugoslavia in Crisis".

Preface - The Nature of the Problem - Perfect Competition - Semi-perfect Competition - Fixprice Competition - Optimality - The Role of the Entrepreneur - The Supply of Entrepreneurship - Some Wider Issues - Notes - Index

ISBN: 9780333569238
ISBN-10: 0333569237
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 104
Published: 1st July 1992
Country of Publication: GB
Dimensions (cm): 22.3 x 14.5  x 1.3
Weight (kg): 0.29
Edition Number: 3