Capitalism and democracy in the 21st Century: from the managed to the entrepreneurial economy*

David Audretsch () and Roy Thurik

Journal of Evolutionary Economics, 2000, vol. 10, issue 1, 17-34

Abstract: This paper explains how and why the developed countries are undergoing a fundamental shift away from a managed economy and towards an entrepreneurial economy. This shift is shaping the development of western capitalism and has triggered a shift in government policies away from constraining the freedom of business to contract through regulation, public ownership and antitrust towards a new set of enabling policies which foster the creation and commercialization of new knowledge. The empirical evidence from a cross-section of countries over time suggests that those countries that have experienced a greater shift from the managed to the entrepreneurial economy have had lower levels of unemployment.

Keywords: Entrepreneurship; -; Knowledge; -; Growth; -; Schumpeter; -; Unemployment (search for similar items in EconPapers)
JEL-codes: O0 (search for similar items in EconPapers)
Date: 2000-01-04
References: Add references at CitEc
Citations: View citations in EconPapers (220)

Downloads: (external link)
http://link.springer.de/link/service/journals/00191/papers/0010001/00100017.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joevec:v:10:y:2000:i:1:p:17-34

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/191/PS2

Access Statistics for this article

Journal of Evolutionary Economics is currently edited by Uwe Cantner, Elias Dinopoulos, Horst Hanusch and Luigi Orsenigo

More articles in Journal of Evolutionary Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().