The emergence of entrepreneurial economics

If entrepreneurship remains as important to the economy as ever, then the continuing failure of mainstream economics to adequately account for entrepreneurship indicates that fundamental principles require re-evaluation. It seems no longer possible to expect that only theoretical refinements and extending known principles can provide for a theory of entrepreneurship. This book contributes to the emergence of the entrepreneurial economics field, or school of thought, in which the study of patterns in the complex, seemingly chaotic and unpredictable process of entrepreneurship and its role in the economy stands central. Its articles provide interesting new ideas and insights on a theory of entrepreneurship in the economy (W.J. Baumol, D.B. Audretsch, A.V. Bhide) in Part One, and interesting recent research on entrepreneurship in Part Two.