Richard Cantillon and public policy

M. Thornton, Chris R. Brown
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Abstract

PurposeRichard Cantillon (168?–173?) is known as the first economic theorist and the founder of entrepreneurship theory. Few would describe him as engaged in policy issues, but he did write about policy issues of interest to scholars interested in entrepreneurship and economic development. He has long been classified as a mercantilist of a bygone day, even as many believe he was resolute in not commenting on policy matters at all. His views could be a key to pursuing the policy goals of entrepreneurship scholars.Design/methodology/approachThe authors look at several topics in Cantillon's Essay on the Nature of Commerce in General (1755), read in its historical/political context, to better understand Cantillon's views. The authors then relate Cantillon's views to recent interventions in the economy.FindingsThe authors found that Cantillon held clearly antimercantilist, or free market, views. The authors also recognize that his views, given his status as the founder of entrepreneurship theory, can contribute to modern economics. As in Cantillon's day, institutional uncertainty has negative economic consequences and often leads to unproductive entrepreneurship, which is only made worse by the increased complexity of the modern economy.Originality/valueThe authors clarify Cantillon's views against modern-day interpretations and offer a clearer understanding of Cantillon's writings in the context of his Essay on the Nature of Commerce in General (1755). The authors also show the importance of the proper role of institutions for productive entrepreneurship—and the danger of unproductive or destructive entrepreneurship when such institutions do not have policies favorable to entrepreneurship.
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Richard Cantillon与公共政策
目的Richard Cantillon(168?-173?)是我国著名的第一位经济理论家和创业理论的奠基人。很少有人会说他参与了政策问题,但他确实写了对创业和经济发展感兴趣的学者感兴趣的政策问题。长期以来,他一直被归类为过去的重商主义者,尽管许多人认为他坚决不评论政策问题。他的观点可能是实现企业家学者政策目标的关键。设计/方法论/方法论作者从历史/政治背景下阅读坎蒂隆的《商业本质论》(1755)中的几个主题,以更好地理解坎蒂伦的观点。然后,作者将Cantillon的观点与最近的经济干预联系起来。作者发现,Cantillon持有明显的反商业主义或自由市场的观点。作者还认识到,鉴于他作为创业理论创始人的地位,他的观点可以为现代经济学做出贡献。正如坎蒂隆时代一样,制度的不确定性会产生负面的经济后果,并经常导致非生产性创业,而现代经济的复杂性增加只会使这种情况变得更糟。独创性/价值作者澄清了Cantillon反对现代解释的观点,并在《商业本质论》(1755)中对Cantillon的作品有了更清晰的理解。作者还展示了机构在生产性创业中发挥适当作用的重要性,以及当这些机构没有有利于创业的政策时,非生产性或破坏性创业的危险。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
3.70
自引率
15.80%
发文量
22
期刊介绍: Institutions – especially public policies – are a significant determinant of economic outcomes; entrepreneurship and enterprise development are often the channel by which public policies affect economic outcomes, and by which outcomes feed back to the policy process. The Journal of Entrepreneurship & Public Policy (JEPP) was created to encourage and disseminate quality research about these vital relationships. The ultimate aim is to improve the quality of the political discourse about entrepreneurship and development policies. JEPP publishes two issues per year and welcomes: Empirically oriented academic papers and accepts a wide variety of empirical evidence. Generally, the journal considers any analysis based on real-world circumstances and conditions that can change behaviour, legislation, or outcomes, Conceptual or theoretical papers that indicate a direction for future research, or otherwise advance the field of study, A limited number of carefully and accurately executed replication studies, Book reviews. In general, JEPP seeks high-quality articles that say something interesting about the relationships among public policy and entrepreneurship, entrepreneurship and economic development, or all three areas. Scope/Coverage: Entrepreneurship, Public policy, Public policies and behaviour of economic agents, Interjurisdictional differentials and their effects, Law and entrepreneurship, New firms; startups, Microeconomic analyses of economic development, Development planning and policy, Innovation and invention: processes and incentives, Regional economic activity: growth, development, and changes, Regional development policy.
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