INFORMATION, ENTREPRENEURSHIP, AND ECONOMIC PROGRESS
Austrian Economics and Entrepreneurial Studies
ISBN: 978-0-76231-041-8, eISBN: 978-1-84950-226-9
Publication date: 19 August 2003
Abstract
Recognition of a profit opportunity requires a framework of knowledge to place information about a profit opportunity in a context where it can be recognized. The same information about a profit opportunity could be revealed to many people, yet only a few with the appropriate knowledge will be able to place this information into a context that suggests to them a profit opportunity. This paper discusses how entrepreneurs gain knowledge to enable them to be more entrepreneurial, and shows how an economy generates information about entrepreneurial opportunities. Entrepreneurship adds to an economy’s knowledge base, making it easier to recognize profit opportunities when they arise.
Citation
Holcombe, R.G. (2003), "INFORMATION, ENTREPRENEURSHIP, AND ECONOMIC PROGRESS", Koppl, R., Birner, J. and Kurrild-Klitgaard, P. (Ed.) Austrian Economics and Entrepreneurial Studies (Advances in Austrian Economics, Vol. 6), Emerald Group Publishing Limited, Leeds, pp. 173-195. https://doi.org/10.1016/S1529-2134(03)06011-3
Publisher
:Emerald Group Publishing Limited
Copyright © 2003, Emerald Group Publishing Limited