From static to processual analysis: how insights from Austrian economics can advance research on public policy and entrepreneurship

Per L. Bylund, Mark D. Packard, David J. Rapp
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引用次数: 1

Abstract

PurposeThe purpose of this paper is to illustrate how research on the intersection of public policy and entrepreneurship has been bounded by its static approach and how a processual analysis based on Austrian economics can advance the understanding of the subject matter.Design/methodology/approachRooted in the Austrian school of economics, this conceptual paper adopts a processual approach in order to unveil the effects that public policy exerts upon entrepreneurship and the market process.FindingsThe authors argue that by interfering with the market process, public policy detrimentally alters what otherwise would have been the market's natural evolution reflecting acting individuals' subjective valuations. It causes progressively self-reinforcing market distortions which result in comparatively lower levels of both capital accumulation and societal wealth.Research limitations/implicationsThe paper urges future research to rethink public policy's effects on entrepreneurship and to explore them more comprehensively, utilizing market process analysis.Practical implicationsThis research suggests that public policy can never be neutral but necessarily comes with distortive and often detrimental effects. That is, public policy comes at the innate expense of hampering the entrepreneurial process. Thus, new public policies and those already in place should be carefully reconsidered in light of these effects.Originality/valueThis paper offers a novel take on how to best understand the effects public policy has on entrepreneurship and the market process.
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从静态到过程分析:奥地利经济学的见解如何推动公共政策和创业研究
本文的目的是说明公共政策和企业家精神交叉的研究如何受到其静态方法的限制,以及基于奥地利经济学的过程分析如何促进对主题的理解。设计/方法/方法这篇概念性论文植根于奥地利经济学派,采用了一种过程方法来揭示公共政策对企业家精神和市场过程的影响。研究结果作者认为,通过干预市场过程,公共政策有害地改变了反映行为个体主观价值的市场自然演变。它导致逐渐自我强化的市场扭曲,导致资本积累和社会财富水平相对较低。研究的局限性/启示本文敦促未来的研究重新思考公共政策对企业家精神的影响,并利用市场过程分析对其进行更全面的探索。实际意义这项研究表明,公共政策永远不可能是中立的,而必然会带来扭曲的、往往是有害的影响。也就是说,公共政策是以阻碍创业进程为代价的。因此,应根据这些影响仔细重新考虑新的公共政策和已经实施的政策。原创性/价值本文就如何更好地理解公共政策对企业家精神和市场过程的影响提供了一个新颖的视角。
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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