Incentives for Entrepreneurship and Supporting Institutions
Richard R. Nelson
Abstract
Richard R. Nelson
Abstract
The term “entrepreneurship” has been used in a variety of somewhat different ways. In this essay I follow Schumpeter in defining entrepreneurship relatively narrowly as the carrying out of innovation. Thus I shall use the expressions incentives for entrepreneurship, and incentives for innovation, interchangeably. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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The term “entrepreneurship” has been used in a variety of somewhat different ways. In this essay I follow Schumpeter in defining entrepreneurship relatively narrowly as the carrying out of innovation. Thus I shall use the expressions incentives for entrepreneurship, and incentives for innovation, interchangeably. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Key concepts: Incentive, Entrepreneurship, Variety (cybernetics), Business, Economics, Market economy, Finance, Computer science