Firms, Governments, and Economic Change: An Entrepreneurial Perspective

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Edward Elgar Pub., Jan 1, 2001 - Business & Economics - 174 pages
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'This very clearly written book is written foremost for an academic and postgraduate audience, although undergraduate students would be likely to find much of the book readable, particularly the empirical observations and chapters.' - Caroline Elliott, Business History 'This is an entrepreneurial book, not just a book about entrepreneurship. As chapter 1 points out, entrepreneurship involves seeing the world in a new way, a way that is slightly different to how other people see it. and that is what Tony Yu does in this book. He sees the theory of the firm - and of business institutions more generally - in a new and potentially revealing light.' - from the preface by Richard N. Langlois This topical book interprets firms, governments and economic change from an entrepreneurial perspective. Essentially, it applies the Austrian theory of human agency and evolutionary theories of the firm to explain economic organisation, the state and institutional change. Tony Yu begins by discussing the nature of entrepreneurship and the firm followed by an analysis of the role of entrepreneurship in economic change. He thoroughly analyses the process of economic development in late industrialisers, within an entrepreneurial framework outlined within the book. the author argues that ordinary and extraordinary discovery are associated with routine or imitative entrepreneurship and Schumpetarian entrepreneurship respectively. Using this classification, the author shows how it is the interaction of various types of entrepreneurial activities that transformed East Asian latecomers such as Japan, Taiwan, South Korea, Singapore and Hong Kong from traditional agrarian and fishing economies into international centres of trading, service industries and finance.

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Contents

Entrepreneurial Alertness and Discovery
9
A Praxeological Theory of the Firm
31
The Chinese Family Firm and Guerrilla Entrepreneurship
52
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