Entangled Political Economy and the Two Faces of Entrepreneurship

27 Pages Posted: 15 Jun 2012 Last revised: 17 Jul 2012

Marta Podemska-Mikluch

Gustavus Adolphus College

Richard E. Wagner

George Mason University - Department of Economics

Date Written: July 16, 2012

Abstract

This paper contrasts two forms of entrepreneurship -- genuine and parasitical -- within a framework of entangled political economy. In 1911, Joseph Schumpeter described entrepreneurship as the locus of leadership within a capitalist economy. At that time state participation in economic activity was dramatically less than it is now. Entrepreneurship was largely free of political entanglement. After a century of governmental expansion, however, entrepreneurship has increasingly become entangled in parasitical political relationships. Where genuine entrepreneurship is a feature of a constitution of liberty, parasitical entrepreneurship is a feature of a constitution of control.

Keywords: entrepreneurship, entangled political economy, Jane Jacobs, polycentricity vs. monocentricity, parasitical political pricing, liberty and politics

JEL Classification: D02, L14, L26, L33

Suggested Citation

Podemska-Mikluch, Marta and Wagner, Richard E., Entangled Political Economy and the Two Faces of Entrepreneurship (July 16, 2012). GMU Working Paper in Economics No. 12-26. Available at SSRN: https://ssrn.com/abstract=2084487 or http://dx.doi.org/10.2139/ssrn.2084487

Marta Podemska-Mikluch

Gustavus Adolphus College ( email )

800 West College Ave.
Saint Peter, MN Mn 56082
United States
(507) 933-6120 (Phone)
(507) 933-6120 (Fax)

Richard E. Wagner (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
334 Enterprise Hall
Fairfax, VA 22030
United States
(703) 993-1132 (Phone)

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