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Re-Understanding Entrepreneurship: What It Is and Why It Matters - Softcover

 
9781009453363: Re-Understanding Entrepreneurship: What It Is and Why It Matters
  • PublisherCambridge University Press
  • Publication date2024
  • ISBN 10 100945336X
  • ISBN 13 9781009453363
  • BindingPaperback
  • LanguageEnglish
  • Number of pages378

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Zhang, Weiying
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Zhang, Weiying; Dale, Matthew (TRN)
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Zhang, Weiying
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Zhang, Weiying; Dale, Matthew (TRN)
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Paperback. Condition: new. Paperback. How do entrepreneurs make decisions in the real world? Why are entrepreneurs absent from mainstream economics? What functions do entrepreneurs play in the market? What type of institutional environment is needed for entrepreneurship to play a role? Neoclassical economics is a market theory without entrepreneurship. This misconception distorts our understanding of how the real market works, leading to a theory of market failure that forms the common foundation of various government interventions. The market is not only an allocative process but, more importantly, a discovery and creative process. To understand the real market, Weiying Zhang argues that economics must shift from a price-centric to an entrepreneur-centric paradigm. Blending theory and narrative, Zhang intersects history with the present supporting his theory with relevant case studies. He argues that once entrepreneurship in the market is correctly understood, the foundation for government intervention is undermined and the economy can sustainably flourish. Economics must shift from a price- to an entrepreneur-centric paradigm, forcing economists to rethink the fundamental faults of mainstream economics, helping scholars distinguish between entrepreneurial/managerial decisions, and ensuring governments realize that many interventionist policies are theoretically wrong and detrimental to the economy. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781009453363

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Weiying Zhang , Translated by Matthew Dale
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