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Article
Publication date: 12 March 2018

Alexander Salter and Glenn Furton

The purpose of this paper is to integrate classical elite theory into theories of constitutional bargains.

Abstract

Purpose

The purpose of this paper is to integrate classical elite theory into theories of constitutional bargains.

Design/methodology/approach

Qualitative methods/surveys/case studies.

Findings

Open-ended constitutional entrepreneurship cannot be forestalled. Constitutional entrepreneurs will almost always be social elites.

Research limitations/implications

The research yields a toolkit for analysing constitutional bargains. It needs to be used in historical settings to acquire greater empirical content. Need to be applied to concrete historical cases to do economic history. Right now it is still only institutionally contingent theory.

Practical implications

Formal constitutions do not, and cannot, bind. Informal constitutions can, but they are continually evolving due to elite pressure group behaviors.

Social implications

Liberalism needs another method to institutionalize itself!

Originality/value

Open-ended nature of constitutional bargaining overlooked in orthodox institutional entrepreneurship/constitutional economics literature.

Details

Journal of Entrepreneurship and Public Policy, vol. 7 no. 1
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 26 July 2013

Michael E.S. Hoffman

The purpose of this paper is to establish the consensus about the tremendous economic success of the Troubled Asset Relief Program (TARP) and explore theories of popular…

201

Abstract

Purpose

The purpose of this paper is to establish the consensus about the tremendous economic success of the Troubled Asset Relief Program (TARP) and explore theories of popular disapproval of TARP.

Design/methodology/approach

The analytical approach in this paper is a multivariate survey logit based on two Pew Research Center surveys that include questions on knowledge of and views on TARP. One survey is used to estimate a knowledge index of TARP that is applied to another survey to estimate the impact of knowledge on opinions of TARP.

Findings

The author finds that knowledge of TARP is dependent in particular on education, party affiliation, and sex. Controlling for partisan effects, views on TARP's effectiveness are distorted by limited knowledge of TARP in magnitudes that are politically significant.

Practical implications

Despite the severity and dramatic spillovers associated with banking crises, decisive interventions may prove difficult to defend in retrospect in light of ignorance and an inability to conceptualize the nature of the counterfactual.

Originality/value

This paper contributes to our understanding of the political economy of an important and controversial economic policy, in particular the roles of ideology and knowledge in accounting for public opposition to TARP. TARP is largely misunderstood. The author estimates a model of TARP knowledge based on this misconception, and shows that education, party affiliation/leaning, and sex are important predictors of TARP knowledge. By applying this model of TARP knowledge to a separate survey dataset, the author demonstrates that knowledge of TARP (along with political ideology) is an important predictor of support for TARP. By integrating two different surveys, he is able to better identify the role played by knowledge of TARP, rather than simply demographic characteristics.

Article
Publication date: 24 September 2019

Nick Cowen

The purpose of this paper is to explore the possible contributions of blockchain technology to creating new governance structures that facilitate social cooperation.

Abstract

Purpose

The purpose of this paper is to explore the possible contributions of blockchain technology to creating new governance structures that facilitate social cooperation.

Design/methodology/approach

Conceptual analysis with key ideas in new institutional economics and political theory is used in this paper.

Findings

Blockchain technology provides a new tool through which political entrepreneurs can credibly alienate some of their power within a system of rules that they have established.

Originality/value

This paper links discussion of blockchain entrepreneurship in commercial markets to research into private governance.

Details

Journal of Entrepreneurship and Public Policy, vol. 9 no. 2
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 3 September 2019

Mikayla Novak

The purpose of this paper is to conceptualise the chief aspects of policy interest in blockchain technology.

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Abstract

Purpose

The purpose of this paper is to conceptualise the chief aspects of policy interest in blockchain technology.

Design/methodology/approach

The paper outlines policymaking processes in the context of innovation and technological change, assesses generic variations in policy treatment towards blockchain, and identifies manifestations of policy entrepreneurship using national case studies of blockchain policies.

Findings

Favourable policy dispositions towards blockchain technology are interpreted as political efforts to develop local, blockchain-enabled economies. So-called “crypto-friendly” jurisdictions proactively clarify regulatory and tax treatments of cryptocurrency and other blockchain applications, and trial blockchain uses in fields predominated by public sector activity. Policymakers in countries hostile towards blockchain-related activity have instigated bans or strict limitations with respect to blockchain engagement by developers and users.

Research limitations/implications

Reliance upon case studies suggests the need for alternative study approaches (e.g. index construction, empirical research) as blockchain use consolidates throughout the global economy.

Practical implications

This paper provides insight to policymakers and blockchain practitioners regarding the attributes of accommodative policies towards distributed ledger technology.

Social implications

Countries and sub-national regions exhibiting a more welcoming policy stance are more likely to attract entrepreneurs and investors in the crypto-economic blockchain space.

Originality/value

This paper develops a policy “crypto-friendliness” construct to assess the extent to which policymakers enact accommodative policies for blockchain development.

Details

Journal of Entrepreneurship and Public Policy, vol. 9 no. 2
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 4 October 2019

Chris Berg, Sinclair Davidson and Jason Potts

The purpose of this paper is to explore the long-run economic structure and economic policy consequences of wide-spread blockchain adoption.

Abstract

Purpose

The purpose of this paper is to explore the long-run economic structure and economic policy consequences of wide-spread blockchain adoption.

Design/methodology/approach

The approach uses institutional, organisational and evolutionary economic theory to predict consequences of blockchain innovation for economic structure (dehierarchicalisation) and then to further predict the effect of that structural change on the demand for economic policy.

Findings

The paper makes two key predictions. First, that blockchain adoption will cause both market disintermediation and organisational dehierarchicalisation. And second, that these structural changes will unwind some of the rationale for economic policy developed through the twentieth century that sought to control the effects of market power and organisational hierarchy.

Research limitations/implications

The core implication that the theoretical prediction made in this paper is that wide-spread blockchain technology adoption could reduce the need for counter-veiling economic policy, and therefore limiting the role of government.

Originality/value

The paper takes a standard prediction made about blockchain adoption, namely disintermediation (or growth of markets), and extends it to point out that the same effect will occur to organisations. It then notes that much of the rationale for economic policy, and especially industry and regulatory policy through the twentieth century was justified in order to control economic power created by hierarchical organisations. The surprising implication, then, is that blockchain adoption weakens the rationale for such economic policy. This reveals the long-run relationship between digital technological innovation and the regulatory state.

Details

Journal of Entrepreneurship and Public Policy, vol. 9 no. 2
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 22 October 2018

Alexander Salter

The purpose of this paper is to develop a theory of sovereign entrepreneurship, which is a special kind of political entrepreneurship.

Abstract

Purpose

The purpose of this paper is to develop a theory of sovereign entrepreneurship, which is a special kind of political entrepreneurship.

Design/methodology/approach

This paper uses qualitative methods/historical survey.

Findings

Sovereignty is rooted in self-enforced exchange of political property rights. Sovereign entrepreneurship is the creative employment of political property rights to advance a plan.

Research limitations/implications

Because a polity’s constitution is determined by its distribution of political property rights, sovereign entrepreneurship and constitutional change are necessarily linked. The author illustrated how sovereign entrepreneurship can be applied by using it to explain the rise of modern states.

Practical implications

In addition to studying instances of sovereign entrepreneurship in distant history, scholars can apply it to recent history. Sovereign entrepreneurship can be especially helpful as a tool for doing analytic narratives of low-n cases of political-economic development, especially when those polities attract interests for being “development miracles.”

Originality/value

This paper uses treats sovereignty as a political property right.

Details

Journal of Entrepreneurship and Public Policy, vol. 7 no. 4
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 10 September 2019

Yong Tang, Jason Xiong, Rafael Becerril-Arreola and Lakshmi Iyer

The purpose of this paper is fourfold: first, to provide the first systematic study on the ethics of blockchain, mapping its main socio-technical challenges in technology and…

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Abstract

Purpose

The purpose of this paper is fourfold: first, to provide the first systematic study on the ethics of blockchain, mapping its main socio-technical challenges in technology and applications; second, to identify ethical issues of blockchain; third, to propose a conceptual framework of blockchain ethics study; fourth, to discuss ethical issues for stakeholders.

Design/methodology/approach

The paper employs literature research, research agenda and framework development.

Findings

Ethics of blockchain and its applications is essential for technology adoption. There is a void of research on blockchain ethics. The authors propose a first theoretical framework of blockchain ethics. Research agenda is proposed for future search. Finally, the authors recommend measures for stakeholders to facilitate the ethical adequacy of blockchain implementations and future Information Systems (IS) research directions. This research raises timely awareness and stimulates further debate on the ethics of blockchain in the IS community.

Originality/value

First, this work provides timely systematic research on blockchain ethics. Second, the authors propose the first research framework of blockchain ethics. Third, the authors identify key research questions of blockchain ethics. Fourth, this study contributes to the understanding of blockchain technology and its societal impacts.

Article
Publication date: 7 September 2020

Abigail Devereaux

Our central thesis is that the dynamic, immersive and agile nature of extended reality (XR) both provides an unusually fertile ground for the development of alternative forms of…

Abstract

Purpose

Our central thesis is that the dynamic, immersive and agile nature of extended reality (XR) both provides an unusually fertile ground for the development of alternative forms of governance and essentially necessitates this development by contrast with relatively inagile institutions of public governance.

Design/methodology/approach

I take an epistemologically aware, systems-theoretic perspective in my analysis to properly tease out the relevant micro-, meso- and macro-structures; their direct interactions; and their entanglements.

Findings

The challenges presented by rapidly advancing XR may require much more agile forms of governance than are available from public institutions, even under widespread algorithmic governance. Social entrepreneurship in blockchain solutions may very well be able to meet some of these challenges, as we show.

Originality/value

There are very few systems-aware, epistemological analyses of social entrepreneurship utilizing algorithms versus public algorithmic governance and none that focus on how these two channels of social action interact with developments in XR.

Details

Journal of Entrepreneurship and Public Policy, vol. 10 no. 2
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 5 November 2018

David S. Lucas, Caleb S. Fuller, Ennio E. Piano and Christopher J. Coyne

The purpose of this paper is to present and compare alternative theoretical frameworks for understanding entrepreneurship policy: targeted interventions to increase venture…

Abstract

Purpose

The purpose of this paper is to present and compare alternative theoretical frameworks for understanding entrepreneurship policy: targeted interventions to increase venture creation and/or performance. The authors contrast the Standard view of the state as a coherent entity willing and able to rectify market failures with an Individualistic view that treats policymakers as self-interested individuals with limited knowledge.

Design/methodology/approach

The authors draw on the perspective of “politics as exchange” to provide a taxonomy of assumptions about knowledge and incentives of both entrepreneurship policymakers and market participants. The authors position extant literature in relation to this taxonomy, and assess the implications of alternative assumptions.

Findings

The rationale for entrepreneurship policy intervention is strong under the Standard view but becomes considerably more tenuous in the Individualistic view. The authors raise several conceptual challenges to the Standard view, highlighting inconsistencies between this view and the fundamental elements of the entrepreneurial market process such as uncertainty, dispersed knowledge and self-interest.

Research limitations/implications

Entrepreneurship policy research is often applied; hence, the theoretical rationale for intervention can be overlooked. The authors make the implicit assumptions of these rationales explicit, showing how the adoption of “realistic” assumptions offers a robust toolkit to evaluate entrepreneurship policy.

Practical implications

While the authors agree with entrepreneurship policy interventionists that an “entrepreneurial society” is conducive to economic development, this framework suggests that targeted efforts to promote entrepreneurship may be inconsistent with that goal.

Originality/value

The Individualistic view draws on the rich traditions of public choice and the entrepreneurial market process to highlight the intended and unintended consequences of entrepreneurship policy.

Details

Journal of Entrepreneurship and Public Policy, vol. 7 no. 4
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

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Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

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