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To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth Theory
Research Institute of Industrial Economics (IFN), Stockholm, Sweden.
Örebro University School of Business, Örebro, Sweden.
Jönköping University, Jönköping International Business School, JIBS, Centre for Family Entrepreneurship and Ownership (CeFEO).
2024 (English)In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 48, no 1, p. 104-140Article in journal (Refereed) Published
Sustainable development
00. Sustainable Development, 8. Decent work and economic growth
Abstract [en]

Based on a review of 700+ peer-reviewed articles since 1990, identified using text mining methodology and supervised machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter Mark I and the entrepreneurless framework of Schumpeter Mark II. The literature leans heavily toward Schumpeter Mark II; innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are (probabilistically) deterministic, the entrepreneur becomes redundant. Abstracting from genuine uncertainty, implies that central issues regarding the economic function of the entrepreneur are overlooked such as the roles of proprietary resources, skills, and profits.

Place, publisher, year, edition, pages
Sage Publications, 2024. Vol. 48, no 1, p. 104-140
Keywords [en]
creative destruction, economic growth, entrepreneur, innovation, judgment, Knightian uncertainty
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-59819DOI: 10.1177/10422587221141679ISI: 000922412900001Scopus ID: 2-s2.0-85147374046Local ID: HOA;;861469OAI: oai:DiVA.org:hj-59819DiVA, id: diva2:1736728
Funder
The Jan Wallander and Tom Hedelius Foundation, P2018-0162Marcus and Amalia Wallenberg Foundation, 2020.0049Available from: 2023-02-14 Created: 2023-02-14 Last updated: 2024-01-15Bibliographically approved

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Karlsson, Johan

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