ECON 1 Lecture Notes - Lecture 9: Ptolemaic Kingdom, Stirrup, Confucianism
Document Summary
Theory: the allocation of productive and unproductive entrepreneurial activities is heavily influenced by the payoffs society offers, the rules of the game. Therefore, policy can influence this allocation more effectively than it can influence the supply of entrepreneurship. Our productivity problem resides in the spirit of entrepreneurship / allocation. (but it is not claimed this is all there is to the matter) Vs classical theory: growth slow = decline in entrepreneurship, flowering entrepreneurship = expansion. This model encompasses the role of entrepreneur in the economic development. It takes into account different concepts of innovation: 4- conquest of a new source of supply of raw materials or half-manufactured goods. 5- carrying out new organization of any industry (e. g. : creation/destruction of monopoly) *the model and its forms are not thought far enough (e. g. : existing products brought to a new market, or already-available technology reallocation) this list can be also expanded to include also.
