The market-process approach to public policy

This chapter spells out some general principles that can be used as a basis for developing public policy in general and policy towards entrepreneurship in particular. These principles are derived from the theory of entrepreneurial discovery and the framework developed in previous chapters. As well as providing a starting point for developing public policy, these principles can be used to evaluate current and prospective public policies. Among other things, these rules emphasise taking into account the (often unintended) effects of policy on entrepreneurship and market processes.