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The purpose of this paper is to clarify the distinctions and complementary of William Baumol and Israel Kirzner’s classifications of and insights into entrepreneurship, and thus providing a more complete taxonomy of the substance of entrepreneurial activity. This paper also attempts to clarify distinctions between unproductive and destructive entrepreneurship.

This paper illustrates a more complete taxonomy of the substance of entrepreneurial activity by examining entrepreneurial innovation in drug markets both legal and illegal, identifying cases of productive, unproductive, superfluous, erroneous, destructive, and protective entrepreneurship.

This paper finds that the classifications of entrepreneurship (productive, superfluous, unproductive, erroneous, protective and destructive) put forth by Baumol, Kirzner, and the institutional entrepreneurship literature are complementary. While Baumol seeks to explain the disequilibrating tendencies of entrepreneurship, Kirzner seeks to explain the equilibrating tendencies of entrepreneurship within the institutional context.

This paper utilizes case studies from legal and illegal drug markets to uniquely and better explain the six cases of entrepreneurship. This paper also contributes to the literature by clearly articulating the complementarity of Baumolian and Kirznerian entrepreneurship.

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.

Networks and learning matter to small- and medium-sized enterprises (SMEs). Networks and learning are also further elaborations on the exploration–exploitation (EE) dilemma. Ambidexterity, that is, managing this apparent dilemma, can be difficult as a result of many constraints. One of these constraints is that of mutually exclusive network structures. Consequently, ambidexterity is the ability to change networks, depending on need using mixed data on four small companies formed as part of an undergraduate management class, I hypothesize how specific network properties of the advice-seeking relationship, including density, cohesion, centralization, and embeddedness, affect two outcomes. Specifically, early exploratory learning is proposed to be positively affected by less-dense networks that maintain cohesion without centralization and do not have relations embedded in other relations. In contrast, later exploitative learning should be associated with denser networks that also have higher cohesion, higher centralization, and greater embeddedness. The results provide some support for these hypotheses and suggest further research in two areas that will benefit SMEs. One, how do early networks affect learning mode? Two, how does the ability to rewire networks provide the relational infrastructure to shift from exploration to exploitation – that is, to be ambidextrous in the face of the exploration–exploitation tradeoff?

In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still be covered by the Act if she were employed on like work in succession to the man? This is the question which had to be solved in Macarthys Ltd v. Smith. Unfortunately it was not. Their Lordships interpreted the relevant section in different ways and since Article 119 of the Treaty of Rome was also subject to different interpretations, the case has been referred to the European Court of Justice.

The world has been witnessing a new dreadful disease since the latter part of 2019. The disease known as the novel coronavirus disease often referred to as COVID-19 originated from the Chinese city of Wuhan in the Hubei province and has since spread across the world resulting in the World Health Organisation to declare it a global pandemic. Whilst it appears obvious that the pandemic continues to generate several impacts, knowledge of the true idea, nature and extent of the impacts is scanty, partly because the disease is novel, ongoing and an antidote is yet to be found for it as well as the fact that no or little systematic studies have been conducted into the impacts and the results codified. This study, therefore, explores the global overview of the environmental and socioeconomic impacts of COVID-19 based on evidence in the literature. The chapter found that several measures such as imposition of partial or total lockdowns, social distancing and stay-at-home policies, wearing of face masks and the use of gloves and hand sanitizers have been instituted to contain the pandemic since its outbreak. Apart from 4,766,468 infections with 318,201 deaths, which had occurred as at 19 May 2020 and are still counting, the measures instituted have resulted in increase in domestic energy consumption, generation of waste pollution, contraction in production, loss of income and jobs, disruption in market activities and depreciation in asset prices and values across the various sectors of the world's economy, increases in domestic violence and limited access to health services among others. Conversely, the pandemic has partly resulted in positive outcomes such as reduction in greenhouse gas emissions and boost in the operations of the ITC and other allied industries. However, in broad terms, it is a huge threat to sustainable development (SD) and gains made in that regard over the years are eroding. Furthermore, although there have been interventions from governments, United Nations and other international development organisations to ease the adverse impacts, more such interventions and efforts will be required to put the SD agenda on track.