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Economic Progress and Entrepreneurial Innovation: Case Studies from Memphis

Art Carden

affiliation not provided to SSRN

March 2, 2010

Entrepreneurial innovation encourages economic progress, and an institutional climate that encourages risk taking, rewards success, and weeds out failure is essential to a well-functioning economic system. This essay explores a cluster of path-breaking entrepreneurial innovations with common roots in Memphis, Tennessee: Piggly Wiggly’s popularization of self-serve grocery shopping, Holiday Inn’s innovations in standards and quality, Autozone’s adaption of insights from other industries, and FedEx’s creation of a distribution network that has made overnight shipping a reality.

Number of Pages in PDF File: 21

Keywords: Entrepreneurship, Memphis, error, profit, loss, maladjustment

JEL Classification: B53, L26, O10

working papers series

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Date posted: January 15, 2010 ; Last revised: March 4, 2010

Suggested Citation

Carden, Art, Economic Progress and Entrepreneurial Innovation: Case Studies from Memphis (March 2, 2010). Available at SSRN: http://ssrn.com/abstract=1536088 or http://dx.doi.org/10.2139/ssrn.1536088

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