‘Law and (Which?) Entrepreneurship’

Magnus Henrekson and Tino Sanandaji, ‘Measuring Entrepreneurship: Do Established Metrics Capture Schumpeterian Entrepreneurship?’, 44 Entrepreneurship Theory and Practice 733 (2020). We often hear that entrepreneurship is important to the economy. But what exactly is ‘entrepreneurship’? There is a broad and growing literature connecting institutions with entrepreneurship in the fields of law, economics, finance, and business generally. Legal scholars in this field typically focus on the role of ‘law’ and treat ‘entrepreneurship’ as a taken-for-granted concept that does not need any discussion. Yet, it is important to recognize that researchers in the broader non-legal literature on the relationship between institutions and entrepreneurship have been struggling to define and measure ‘entrepreneurship’. Empirical research that measures entrepreneurship inaccurately may lead to flawed conclusions including legal policy recommendations … (more)

[Li-Wen Lin, JOTWELL, 16 June]

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