Journal of Entrepreneurship and Public Policy, Forthcoming
34 Pages Posted: 24 May 2018 Last revised: 7 Oct 2018
Date Written: October 1, 2018
I develop a theory of sovereign entrepreneurship, which is a special kind of political entrepreneurship. Sovereignty is rooted in self-enforced exchange of political property rights. Sovereign entrepreneurship is the creative employment of political property rights to advance a plan. Building on several literatures in political economy and the managerial-organizational sciences, I show how sovereign entrepreneurship is related to ownership and residual judgment rights to government activities. I illustrate the theory by using it to reinterpret the rise of modern states as the entrepreneurial reassembly of ownership rights and control rights within government. I conclude by discussing future avenues of research on sovereign entrepreneurship.
Keywords: entrepreneurship, political entrepreneurship, property rights, residual claimancy, sovereign, theory of the firm
JEL Classification: D23, M10, H83, P16
Suggested Citation: Suggested Citation