Authors
Christopher J Coyne, Russell S Sobel, John A Dove
Publication date
2010/12
Journal
The Review of Austrian Economics
Volume
23
Pages
333-346
Publisher
Springer US
Description
A large literature explores the importance of entrepreneurship as the catalyst of economic progress. In contrast, this paper argues that entrepreneurs are the driver of economic stagnation. We analyze the non-productive entrepreneurial process and discuss three channels through which non-productive activities have a multiplier effect culminating in economic decline and stagnation. Drawing on examples of non-productive entrepreneurship from both underdeveloped and developed countries, we provide insight into why economic stagnation persists in the former and why economic decline can occur in the latter.
Total citations
Scholar articles
CJ Coyne, RS Sobel, JA Dove - The Review of Austrian Economics, 2010