Entrepreneurial Accessibility, Eudaimonic Well-Being, and Inequality

30 Pages Posted: 14 Oct 2021

See all articles by Christopher Boudreaux

Christopher Boudreaux

Florida Atlantic University

Niklas Elert

HFI, Institute of Retail Economics

Magnus Henrekson

Research Institute of Industrial Economics (IFN)

David Lucas

Syracuse University

Date Written: October 13, 2021

Abstract

Amidst considerable debate on the relationship between entrepreneurship and economic inequality, scholarship only indirectly addresses how entrepreneurship informs individuals’ relative well-being. We theorize on the nuanced relationship between entrepreneurship and equality of eudaimonic well-being through the lens of New Institutional Economics. Drawing on theories of human flourishing, we suggest that entrepreneurial action is an underappreciated mechanism by which individuals pursue well-being. Equality of well-being is thus influenced by a society’s entrepreneurial accessibility: the freedom of individuals to choose to engage in entrepreneurial action. We present a multilevel framework in which institutional factors enable entrepreneurial action by promoting entrepreneurial accessibility—a factor, that, in turn, affects well-being for individual entrepreneurs as well as societal eudaimonic equality. The ex ante conditions for equality of well-being entail institutions that yield broad entrepreneurial accessibility. Our work highlights the institutional prerequisites for human flourishing in the entrepreneurial society beyond (unequal) economic distributions.

Keywords: inequality, entrepreneurship, well-being, institutions, eudaimonia

JEL Classification: D31, D63, I30, L26, O43

Suggested Citation

Boudreaux, Christopher and Elert, Niklas and Henrekson, Magnus and Lucas, David, Entrepreneurial Accessibility, Eudaimonic Well-Being, and Inequality (October 13, 2021). IFN Working Paper No. 1410, Available at SSRN: https://ssrn.com/abstract=3941749

Christopher Boudreaux

Florida Atlantic University ( email )

777 Glades Road
KH 145
Boca Raton, FL 33431
United States

HOME PAGE: http://home.fau.edu/cboudreaux/web/

Niklas Elert

HFI, Institute of Retail Economics ( email )

Regeringsgatan
Stockholm
Sweden

Magnus Henrekson (Contact Author)

Research Institute of Industrial Economics (IFN) ( email )

P.O. Box 55665
Grevgatan 34
Stockholm, SE-10215
Sweden
+46-8-6654502 (Phone)
+46-8-6654599 (Fax)

HOME PAGE: http://www.ifn.se/mh

David Lucas

Syracuse University ( email )

721 University Ave
Syracuse, NY 13244-2130
United States

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