S-WoPEc
 
Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
Research Institute of Industrial Economics (IFN) Working Paper Series

No 999:
Entrepreneurship, Innovation and Human Flourishing

Magnus Henrekson ()

Abstract: This essay uses Edmund Phelps new book Mass Flourishing: How Grassroots Innovation Created Jobs,Challenge, and Change (Princeton University Press, 2013) as inspiration to discuss innovation and entrepreneurship. The book is laudable for its discussion of what constitutes a “good life”. Phelps argues that true life satisfaction cannot be achieved through a purposeless quest for wealth and material consumption, but rather through adventure, entrepreneurship or creative endeavors. Weaknesses of the book include a overly glossy characterization of the period before WW II, a niggardly evaluation of European innovation and the lack of convincing empirical evidence for the claim that the rate of innovation has slowed. These flaws are regrettable given the importance of the book´s main message: Innovation and creative entrepreneurship are not merely the keys to economic growth, but to life satisfaction as well. This essay discusses topics in entrepreneurship research linked to the book, including the link between innovation and entrepreneurship, the role of institutions for entrepreneurship, and the tendency of national accounts to under-record the social value of innovation and entrepreneurship. If the measures used do not capture the full social value of innovation, we are likely to underestimate the genuine rate of innovation. Government policy may also be misguided.

Keywords: Innovation; Entrepreneurship; Institutions; Culture; Modernism; Postmodernism; Values; (follow links to similar papers)

JEL-Codes: L26; M14; P47; Z13; (follow links to similar papers)

25 pages, January 2, 2014, Revised January 15, 2014

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

wp999.pdf    PDF-file
Download Statistics
This paper is published as:
Henrekson, Magnus, (2014), 'Entrepreneurship, Innovation and Human Flourishing', Small Business Economics, Vol. 43, No. 3, pages 511-528



Questions (including download problems) about the papers in this series should be directed to Elisabeth Gustafsson ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:iuiwop:0999 This page was generated on 2016-10-11 23:31:22