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Economic Progress and Entrepreneurial Innovation: Case Studies from Memphis

21 Pages Posted: 15 Jan 2010 Last revised: 4 Mar 2010

Art Carden

Brock School of Business, Samford University; Independent Institute

Date Written: March 2, 2010

Abstract

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.

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

JEL Classification: B53, L26, O10

Suggested Citation

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

Art Carden (Contact Author)

Brock School of Business, Samford University ( email )

800 Lakeshore Drive
Birmingham, AL 35229
United States

HOME PAGE: http://www.artcarden.com

Independent Institute ( email )

100 Swan Way
Oakland, CA 94621-1428
United States

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