Between 1961 and 1978, Muslim Fula immigrants from different West African countries became one of the most successful mercantile groups in Freetown, the capital city of Sierra Leone. African Entrepreneurship, published by Ohio University Press on December 31, 1999, examines the commercial activities of Fula immigrants and their offspring in Sierra Leone. Author Alusine Jalloh explores the role of Islam in Fula commercial organizations and social relationships, as well as the connection between Fula merchants and politics.
Departing from the prevailing scholarship, Jalloh characterizes the Fula businesses as independent, rather than appendages of Western expatriate commerce. In addition to establishing successful businesses, Fula merchants established Islamic educational institutions for propogating the Muslim faith and promoting Islamic scholarship.
This study also examines the evolution of Fula chieftaincy from the colonial era to the postcolonial period and documents the importance of mercantile wealth and networks in the election of Fula chiefs in Freetown. African Entrepreneurship makes an important contribution to the understudied role of African business in Sierra Leone.
Much has been written about how to successfully manage commercial businesses, but the literature on managing cultural organizations is comparatively scarce. In this unique book, Giep Hagoort draws on more than fifteen years experience at the Utrecht School of the Arts to help students, teachers, artists, and managers apply management theory to the creation of successful cultural institutions. Utilizing case histories and practical exercises, this book teaches skills for building effective institutions of cultural production and preservation.
From Jean Baptiste Point DuSable to Oprah Winfrey, black entrepreneurship has helped define Chicago. Robert E. Weems Jr. and Jason P. Chambers curate a collection of essays that place the city as the center of the black business world in the United States. Ranging from titans like Anthony Overton and Jesse Binga to McDonald's operators to black organized crime, the scholars shed light on the long overlooked history of African American work and entrepreneurship since the Great Migration. Together they examine how factors like the influx of southern migrants and the city's unique segregation patterns made Chicago a prolific incubator of productive business development ”and made building a black metropolis as much a necessity as an opportunity. Contributors: Jason P. Chambers, Marcia Chatelain, Will Cooley, Robert Howard, Christopher Robert Reed, Myiti Sengstacke Rice, Clovis E. Semmes, Juliet E. K. Walker, and Robert E. Weems Jr.
Capitalism from Below
Victor Nee Harvard University Press, 2012 Library of Congress HC427.95.N44 2012 | Dewey Decimal 330.951
Over 630 million Chinese escaped poverty since the 1980s, the largest decrease in poverty in history. Studying 700 manufacturing firms in the Yangzi region, the authors argue that the engine of China’s economic miracle—private enterprise—did not originate at the top but bubbled up from below, overcoming initial obstacles set up by the government.
Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics.
Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources."
Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.
In recent years, the global creative economy has experienced unprecedented growth. In tandem with that, considerable research has been conducted to determine what exactly the creative economy is, what occupations are grouped under that name, and how it is to be measured. Organizations on various scales, from the United Nations to local governments, have released “creative” or “cultural” economy reports, developed policies for creative urban renewal, and directed attention to creative place making—the purposeful infusion of creative activity into specific urban environments.
Parallel to these research and policy interests, academic institutions and professional organizations have begun to develop training programs for future professionals in the creative and cultural industries. In this book, more than fifty scholars from across the globe shed light on this phenomenon of cultural entrepreneurship. Readers will find conceptual frameworks for building new programs for the creative industries, examples of pedagogical approaches and skills-based training, and concrete examples of program and course implementation.
Nobel Laureate Edmund Phelps and an international group of economists argue that economic health depends on the widespread presence of certain values, in particular individualism and self-expression.
Nobel Laureate Edmund Phelps has long argued that the high level of innovation in the lead nations of the West was never a result of scientific discoveries plus entrepreneurship, as Schumpeter thought. Rather, modern values—particularly the individualism, vitalism, and self-expression prevailing among the people—fueled the dynamism needed for widespread, indigenous innovation. Yet finding links between nations’ values and their dynamism was a daunting task. Now, in Dynamism, Phelps and a trio of coauthors take it on.
Phelps, Raicho Bojilov, Hian Teck Hoon, and Gylfi Zoega find evidence that differences in nations’ values matter—and quite a lot. It is no accident that the most innovative countries in the West were rich in values fueling dynamism. Nor is it an accident that economic dynamism in the United States, Britain, and France has suffered as state-centered and communitarian values have moved to the fore.
The authors lay out their argument in three parts. In the first two, they extract from productivity data time series on indigenous innovation, then test the thesis on the link between values and innovation to find which values are positively and which are negatively linked. In the third part, they consider the effects of robots on innovation and wages, arguing that, even though many workers may be replaced rather than helped by robots, the long-term effects may be better than we have feared. Itself a significant display of creativity and innovation, Dynamism will stand as a key statement of the cultural preconditions for a healthy society and rewarding work.
"Portes suggests that immigration constitutes an especially appropriate Mertonian 'strategic research site' for economic sociology in that it provides very good opportunities for investigating the embeddedness of economic relationships in social situations....the contributors expand the conventional domain of economic sociology quite literally in both time and space."—Contemporary Sociology "Alejandro Portes and his splendid band of collaborators make clear that the causes, processes, and consequences of migration vary dramatically from group to group, that a group's history makes a profound difference to its fate in the American economy. They have produced a sinewy book, a book worth arguing with."—Charles Tilly, Columbia University The Economic Sociology of Immigration forges a dynamic link between the theoretical innovations of economic sociology with the latest empirical findings from immigration research, an area of critical concern as the problems of ethnic poverty and inequality become increasingly profound. Alejandro Portes' lucid overview of sociological approaches to economic phenomena provides the framework for six thoughtful, wide-ranging investigations into ethnic and immigrant labor networks and social resources, entrepreneurship, and cultural assimilation. Mark Granovetter illustrates how small businesses built on the bonds of ethnicity and kinship can, under certain conditions, flourish remarkably well. Bryan R. Roberts demonstrates how immigrant groups' expectations of the duration of their stay influence their propensity toward entrepreneurship. Ivan Light and Carolyn Rosenstein chart how specific metropolitan environments have stimulated or impeded entrepreneurial ventures in five ethnic populations. Saskia Sassen provides a revealing analysis of the unexpectedly flexible and vital labor market networks maintained between immigrants and their native countries, while M. Patricia Fernandez Kelly looks specifically at the black inner city to examine how insular cultural values hinder the acquisition of skills and jobs outside the neighborhood. Alejandro Portes also depicts the difference between the attitudes of American-born youths and those of recent immigrants and its effect on the economic success of immigrant children.
Entrepreneurial Selves is an ethnography of neoliberalism. Bridging political economy and affect studies, Carla Freeman turns a spotlight on the entrepreneur, a figure saluted across the globe as the very embodiment of neoliberalism. Steeped in more than a decade of ethnography on the emergent entrepreneurial middle class of Barbados, she finds dramatic reworkings of selfhood, intimacy, labor, and life amid the rumbling effects of political-economic restructuring. She shows us that the déjà vu of neoliberalism, the global hailing of entrepreneurial flexibility and its concomitant project of self-making, can only be grasped through the thickness of cultural specificity where its costs and pleasures are unevenly felt. Freeman theorizes postcolonial neoliberalism by reimagining the Caribbean cultural model of 'reputation-respectability.' This remarkable book will allow readers to see how the material social practices formerly associated with resistance to capitalism (reputation) are being mobilized in ways that sustain neoliberal precepts and, in so doing, re-map class, race, and gender through a new emotional economy.
Entrepreneurial Seoulite might be read as a memoir on Hongdae based on the author’s observations as a member of South Korea’s Generation X. During the 1990’s, Hongdae became widely known as a cool place associated with discourses on alternative music, independent labels, and club culture. Today, Hongdae is well known for its youth culture and nightlife, as well as its gentrification.
Recent research on Korean culture approaches the K-wave phenomenon from the perspectives of cultural consumption, media analysis, and cultural management and policy. Meanwhile, studies on Seoul have centered on its transformation as a global, creative city. Rather than examining the K-wave or the city itself, this book explores the experience of living through the city-in-transition, focusing on the relationship between “the ideology that justified engagement in capitalism” and the “subjectification process.” The book aims to understand the project to institutionalize a cultural district in Hongdae as a demonstration of the coevolution of ideologies and citizenship in a society undergoing rapid liberalization—politically, culturally, and economically.
A cultural turn took place in Korea during the 1990s, amid the economic prosperity driven by state-led industrialization and the collapse of the military dictatorship due to democratization movements. Cultural critiques, emerging as an alternative to social movements, proliferated to assert the freedom and autonomy of individuals against regulatory systems and institutions. The nation was hit by the Asian financial crisis in 1997, and witnessed massive economic restructuring including layoffs, stakeouts, and a prevalence of contingent employment. As a result, the entire nation had to find new engines of economic growth while experiencing a creative destruction. At the center of this national transformation, Seoul has sought to recreate itself from a mega city to a global city, equipped with cutting-edge knowledge industries and infrastructures.
By juxtaposing the cultural turn and cultural/creative city-making, Entrepreneurial Seoulite interrogates the formation of new citizen subjectivity, namely the enterprising self, in post-Fordist Seoul. What kinds of logic guide individuals in the engagement of new urban realities in rapidly liberalized Seoul—culturally and economically? In order to explore this query, Mihye Cho draws on Weber’s concept of “the spirit of capitalism” on the formation of a new economic agency focusing on the re-configuration of meanings, and seeks to capture a transformative moment detailing when and how capitalism requests a different spirit and lifestyle of its participants. Likewise, this book approaches the enterprising self as the new spirit of post-Fordist Seoul and explores the ways in which people in Seoul internalize and negotiate this new enterprising self.
In an increasingly competitive world market, how does the United States rank? Many Americans are worried about the economic state of their nation, especially now that countries like China are becoming ever more economically powerful. What does America need to both stabilize and energize its economy?
Entrepreneurship, Steve Mariotti claims, is key. An Entrepreneur’s Manifesto is Mariotti’s rallying cry for the world to recognize the potential that business creation holds, not only for the individual but for the economy as well. Mariotti explores the ways entrepreneurship affects schools and prisons, developed cities and isolated villages, brick and mortar stores and internet-based business. He takes a hard look at the research done to date on entrepreneurial education, entrepreneurship and government policy, and the social and cultural attributes most likely to foster successful business creation, incorporating his discussions with some of the best minds on the question of entrepreneurship. Mariotti also examines how the rise of the Internet and Web-based innovations like crowdfunding have both changed—and not changed—the fundamentals of promoting those who take the ultimate gamble of going into business for themselves.
As author of several leading text books on the subject and founder of the Network for Teaching Entrepreneurship (NFTE), a global nonprofit organization that has educated more than 500,000 students and trained more than 5,000 teachers in 50 countries, Mariotti is both an experienced and reliable leader in what he calls the entrepreneurial revolution. Mariotti writes frequently for the Huffington Post, and has been recruited by the State Department to discuss his ideas on youth entrepreneurship in Cambodia and other developing countries seeking to escape the shackles of centrally planned economic policies.
Neither a dry recitation of academic theory nor a scattered collection of feel-good stories, An Entrepreneur’s Manifesto builds on Mariotti’s unique perspective to offer a critique that is both inspiring and practical. Riveting stories are complimented with enlightening real-world perspective, making the work relatable and inspiring.
“There is no more revolutionary act,” Mariotti says, “than starting a business.”
In this innovative collaborative ethnography of Italian-Chinese ventures in the fashion industry, Lisa Rofel and Sylvia J. Yanagisako offer a new methodology for studying transnational capitalism. Drawing on their respective linguistic and regional areas of expertise, Rofel and Yanagisako show how different historical legacies of capital, labor, nation, and kinship are crucial in the formation of global capitalism. Focusing on how Italian fashion is manufactured, distributed, and marketed by Italian-Chinese ventures and how their relationships have been complicated by China's emergence as a market for luxury goods, the authors illuminate the often-overlooked processes that produce transnational capitalism—including privatization, negotiation of labor value, rearrangement of accumulation, reconfiguration of kinship, and outsourcing of inequality. In so doing, Fabricating Transnational Capitalism reveals the crucial role of the state and the shifting power relations between nations in shaping the ideas and practices of the Italian and Chinese partners.
In his follow-up to Tavern League: Portraits of Wisconsin Bars, Carl Corey turns his camera on Wisconsin family-owned businesses in existence fifty years or longer. The businesses portrayed here—bakeries and barbecue joints, funeral homes and furniture builders, cheesemakers, fishermen, ferry boat drivers—have survived against all the odds, weathering tough economic times and big-business competition. The owners are loyal to their employees, their families, and themselves. And they are integral to their local economies and social fabric. The services and goods they provide are usually for neighbors and friends. Generations serve generations, creating lasting relationships and strong, vibrant neighborhoods and rural communities. In For Love and Money, Carl Corey provides indelible glimpses of an increasingly endangered way of life. The Museum of Wisconsin Art’s Graham Reid has said, “As current and future generations come and go, these pictures will survive in the hands of the subjects, collectors, museums, and galleries. Will the businesses featured enjoy a similar longevity? Only time will tell, and we can only watch and hope, but Carl Corey has ensured that they will not be forgotten.”
Foreign Policy Advocacy and Entrepreneurship shows how new and dynamic leaders in Congress are becoming highly influential in policymaking. Capturing the spirit of change in Washington, DC, it explores original case studies of eight US policymakers who challenged authority during the Obama administration—from war veterans and fundamentalist Christian activists to former spies and minority legislators. Newly elected representatives in both parties dove into issues that sometimes seemed well beyond the interests of their constituents and that defied their own party leadership. Setting the course for a new generation of lawmakers, junior entrepreneurs studied here employed a combination of formal legislative strategies for successful influence and informal networking, policy narratives, and communication strategies. While some congressional initiatives have succeeded in changing US foreign policy and others have failed, committed entrepreneurs appear to be gaining greater influence over US foreign policy in the polarized atmosphere of Washington, DC.
Cases of entrepreneurship by junior members of Congress represent a puzzle for traditional foreign policy studies that focus on seniority, party discipline, and rigid institutional systems on Capitol Hill. By melding entrepreneurship and policy advocacy literature, this book advances a new typology of foreign policy entrepreneurship, recognizing the impact of multidimensional strategies of influence. The arrival of new members of the 116th Congress, the most diverse in history, provides an exciting laboratory to further test these propositions.
McDonald's. Blockbuster Video. Jiffy Lube. Subway. Franchising has become an ever-present feature of the American landscape. One-third of the U.S. gross domestic product flows through franchises, and one out of every sixteen workers is employed by one. But how did franchising come to play such a dominant role in the American economy? What are the day-to-day experiences of franchisees and franchisers in the workplace? What challenges and pitfalls await them as they stake their claim to prosperity? These are just a few of the questions explored in Franchising Dreams, a documentary-like look into the frustrations and uncertainties that entrepreneurs face in their pursuit of the American dream.
Peter M. Birkeland worked for three years in the front-line operations of franchise units for three companies, met with CEOs and executives, and attended countless trade shows, seminars, and expositions. All this firsthand experience gave him unprecedented access to the hopes and aspirations of franchisees. His book closely traces different franchisees and follows them as their dreams of wealth and independence buckle beneath the weight of frustrating logistics and contractual technicalities. Through extensive interviews and research, Birkeland not only discovers what makes franchisees succeed or fail, he uncovers the difficulties in running a business according to someone else's system and values. Bearing witness to a market flooded with fierce competitors and dependent on the inscrutable whims of consumers, he uncovers the numerous challenges that franchisees face in making their businesses succeed.
The sociologist Thomas Sowell writes, "We need to confront the most blatant fact that has persisted across centuries of social history—vast ddifferences in productivity among peoples, and the economic and other consequences of such differences." Poverty demeans dignity, shrinks the soul, wastes potential, and inflicts suffering on three billion people on our planet. We must also acknowledge that, during the past fifty yyears, the record in international assistance to the least developed countries has been disappointing; the economics-based abstractions developed in the think tanks of Europe and North America are insufficient.
In the River They Swim is the antithesis to that search for solutions the next big theory of global poverty. From the fresh perspective of advisors on the frontlines of development to the insight of leaders like President Paul Kagame of Rwanda and Pastor Rick Warren, it tells the story of change in the microcosms of emerging businesses, industries, and governments. These essays display a personal nature to their work that rigorous analysis alone cannot explain.
We learn that a Sufi master can teach us about the different levels of knowledge, the "different ways to know a river." These practitioners could have written about its length, its source, its depth, its width, the power of its current, and the life it contains. They could have invested time and money to travel to that river so that they could sit on its shores and look at it, feel the sand that borders it, and watch the birds at play over it. Instead, they dove in to swim in the river, felt its current along their bodies, and tasted something of it. They wondered, briefly, if they had the strength to swim its length, and now they share the answer.
If human development is a river, the authors in this volume, and perhaps some readers, will no longer be satisfied to stand along its banks.
This volume highlights the interaction between public policy and innovation. The first chapter documents the dramatic globalization of R&D and how this development has affected the efforts of U.S. multinationals to operate on the global technology frontier. The next chapter synthesizes research on the impact of trade shocks on innovation and explains how these shocks’ effects depend on the firms, industries, and countries affected. The third chapter examines the Advanced Research Projects Agency (ARPA) model of research management—an approach to funding and managing high-risk R&D—and offers a method for diagnosing which research efforts are “ARPA-able.” Next is a study of the Orphan Drug Act and the key changes in the U.S. healthcare landscape and in drug discovery and development since its passage in 1983. The next two chapters focus on artificial intelligence (AI). One describes how AI diffuses through the economy and discusses implications for economic inequality, antitrust, and intellectual property. The other investigates issues surrounding firm competition and labor force participation, such as data portability and a Universal Basic Income, and evaluates ways to address these issues.
Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result, cultivating a strong culture of entrepreneurial thinking has become a primary goal throughout the world.
Surprisingly, there has been little systematic research or comparative analysis to show how the growth of entrepreneurship differs among countries in various stages of development. International Differences in Entrepreneurship fills this void by explaining how a country's institutional differences, cultural considerations, and personal characteristics can affect the role that entrepreneurs play in its economy. Developing an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries are of central importance to this volume. In addition, contributors consider how environmental factors of individual economies, such as market regulation, government subsidies for banks, and support for entrepreneurial culture affect the industry and the impact that entrepreneurs have on growth in developing nations.
How have women managed to break through the glass ceiling of the business world, and what management techniques do they employ once they ascend to the upper echelons of power? What difficult situations have these female business leaders faced, and what strategies have they used to resolve those challenges?
Junctures in Women’s Leadership: Business answers these questions by highlighting the professional accomplishments of twelve remarkable women and examining how they responded to critical leadership challenges. Some of the figures profiled in the book are household names, including lifestyle maven Martha Stewart, influential chef Alice Waters, and trailblazing African-American entrepreneur Madame C.J. Walker. Others have spent less time in the public eye, such as Johnson & Johnson executive JoAnn Heffernan Heisen, Verizon Senior Vice President Diane McCarthy, Wells Fargo technology leader Avid Modjtabai, Xerox CEO Ursula Burns, Spanx founder Sara Blakely, inventor Jane ni Dhulchaointigh, engineering firm President Roseline Marston, Calvert Investments President and CEO Barbara Krumsiek, and Merrill Lynch executive Subha Barry. These women, from diverse backgrounds, have played important roles in their respective corporations and many have worked to improve the climate for women in male-dominated industries.
This is a book about women who are leading change in business. Their stories illuminate the ways women are using their power and positions—whether from the middle ranks or the top, whether from within companies or by creating their own companies. Each case study in Junctures in Women’s Leadership: Business includes a compelling and instructive story of how a woman business leader handled a critical juncture or crisis in her career. Not only does the book offer an inspiring composite portrait of women succeeding in the business world, it also provides leadership lessons that will benefit readers regardless of gender.
Too often, innovative individuals and teams come up with new-business ideas only to hit the proverbial wall, become discouraged, and fail to follow through. How can you get more traction with your ideas and see them through to fruition? As with so many things in life, half the battle is knowing what questions to ask. In this book, serial entrepreneur and business professor Jim Price illustrates a simple, yet powerful framework known as the Launch Lens. Price’s method leads innovators through a structured process to clearly define and communicate their concept, distinguish the good ideas from the not-so-good, and lay the cornerstones of the startup planning process.
The Launch Lens is comprised of twenty critical questions or Focal Points, organized according the classic new-business planning categories: problem, solution, market, business model, marketing and sales, finance, capital, and team. The book leads readers through explanations of how to address each question, illustrated by useful examples, tips, and red flags. Already in active use by thousands of innovators – ranging from aspiring entrepreneurs to early-stage startup teams and venture investors, from incubators and accelerators to intrapreneurs within established corporations and non-profits – The Launch Lens can help you bring your new-business concepts into clear focus.
When members are elected to the House of Representatives they have a certain freedom to decide how they will act as members and how they will build their reputations. Just as in the market place entrepreneurs build businesses, so in the House of Representatives members have the freedom to choose to build legislative programs that will enhance their reputations in the institution. And yet entrepreneurship is also costly to members. Gregory Wawro explains why members of the House engage in legislative entrepreneurship by examining what motivates them to acquire policy knowledge, draft legislation, build coalitions, and push their legislation in the House. He considers what incentives members have to perform what many have perceived to be the difficult and unrewarding tasks of legislating.
This book shows how becoming a legislative entrepreneur relates to members' goals of reelection, enacting good public policy, and obtaining influence in the House. The analysis differs from previous studies of this behavior, which for the most part have employed case study methods and have relied on anecdotal evidence to support their arguments. Wawro analyzes legislative entrepreneurship in a general and systematic fashion, developing hypotheses from rational-choice-based theories and testing these hypotheses using quantitative methods.
Wawro argues that members engage in legislative entrepreneurship in order to get ahead within the House. He finds that the more legislative entrepreneurship that members engage in, the more likely it is that they will advance to prestigious positions.
This book is of interest to students of Congress, legislative behavior and institutions, elections, and campaign finance.
Gregory Wawro is Assistant Professor of Political Science, Columbia University.
Hiplife is a popular music genre in Ghana that mixes hip-hop beatmaking and rap with highlife music, proverbial speech, and Akan storytelling. In the 1990s, young Ghanaian musicians were drawn to hip-hop's dual ethos of black masculine empowerment and capitalist success. They made their underground sound mainstream by infusing carefree bravado with traditional respectful oratory and familiar Ghanaian rhythms. Living the Hiplife is an ethnographic account of hiplife in Ghana and its diaspora, based on extensive research among artists and audiences in Accra, Ghana's capital city; New York; and London. Jesse Weaver Shipley examines the production, consumption, and circulation of hiplife music, culture, and fashion in relation to broader cultural and political shifts in neoliberalizing Ghana.
Shipley shows how young hiplife musicians produce and transform different kinds of value—aesthetic, moral, linguistic, economic—using music to gain social status and wealth, and to become respectable public figures. In this entrepreneurial age, youth use celebrity as a form of currency, aligning music-making with self-making and aesthetic pleasure with business success. Registering both the globalization of electronic, digital media and the changing nature of African diasporic relations to Africa, hiplife links collective Pan-Africanist visions with individualist aspiration, highlighting the potential and limits of social mobility for African youth.
The author has also directed a film entitled Living the Hiplife and with two DJs produced mixtapes that feature the music in the book available for free download.
What happens when the market tries to help the poor? In many parts of the world today, neoliberal development programs are offering ordinary people the tools of free enterprise as the means to well-being and empowerment. Schemes to transform the poor into small-scale entrepreneurs promise them the benefits of the market and access to the rewards of globalization. Markets of Dispossession is a theoretically sophisticated and sobering account of the consequences of these initiatives.
Julia Elyachar studied the efforts of bankers, social scientists, ngo members, development workers, and state officials to turn the craftsmen and unemployed youth of Cairo into the vanguard of a new market society based on microenterprise. She considers these efforts in relation to the alternative notions of economic success held by craftsmen in Cairo, in which short-term financial profit is not always highly valued. Through her careful ethnography of workshop life, Elyachar explains how the traditional market practices of craftsmen are among the most vibrant modes of market life in Egypt. Long condemned as backward, these existing market practices have been seized on by social scientists and development institutions as the raw materials for experiments in “free market” expansion. Elyachar argues that the new economic value accorded to the cultural resources and social networks of the poor has fueled a broader process leading to their economic, social, and cultural dispossession.
Start-ups and other entrepreneurial ventures make a significant contribution to the US economy, particularly in the tech sector, where they comprise some of the largest and most influential companies. Yet for every high-profile, high-growth company like Apple, Facebook, Microsoft, and Google, many more fail. This enormous heterogeneity poses conceptual and measurement challenges for economists concerned with understanding their precise impact on economic growth.
Measuring Entrepreneurial Businesses brings together economists and data analysts to discuss the most recent research covering three broad themes. The first chapters isolate high- and low-performing entrepreneurial ventures and analyze their roles in creating jobs and driving innovation and productivity. The next chapters turn the focus on specific challenges entrepreneurs face and how they have varied over time, including over business cycles. The final chapters explore core measurement issues, with a focus on new data projects under development that may improve our understanding of this dynamic part of the economy.
Since 1980, when the United States government first allowed universities and laboratories to reap commercial profits from federally-funded projects, top institutions have been licensing their research. Over the past decade, more and more institutions believe the big money is in commercializing the research themselves. What are the approaches and elements involved in bridging the gap between academic research and entrepreneurial commercial success? Mind into Matter explores the hiostory and issues of transferring ideas from university researchlabs to the marketplace, and the commercial and global benefits of this process.
To create sustainable technology transfer programs, universities must risk their own capital. In doing so, they find themselves having to set up virtual venture-capital funds - often with sorry results. Yet, technology transfer has had considerable success and continues to hold great promise for universities, scientists, and venture capitalists.
What are the approaches and elements involved in bridging the gap between academic research and entrepreneurial commercial success? Mind into Matter explores the hiostory and issues of transferring ideas from university researchlabs to the marketplace, and the commercial and global benefits of this process.
New Jersey has a long history of adapting to a changing economic climate. From its colonial origins to the present day, New Jersey's economy has continuously and successfully confronted the challenges and uncertainties of technological and demographic change, placing the state at the forefront of each national and global economic era. Based on James W. Hughes and Joseph J. Seneca’s nearly three-decade-long Rutgers Regional Report series, New Jersey’s Postsuburban Economy presents the issues confronting the state and brings to the forefront ideas for meeting these challenges.
From the rural agricultural and natural resource based economy and lifestyle of the seventeenth century to today’s postindustrial, suburban-dominated, automobile-dependent economy, the economic drivers which were considered to be an asset are now viewed by many to be the state’s greatest disadvantage. On the brink of yet another transformation, this one driven by a new technology and an internet based global economy, New Jersey will have to adapt itself yet again—this time to a postsuburban digital economy.
Hughes and Seneca describe the forces that are now propelling the state into yet another economic era. They do this in the context of historical economic transformations of New Jersey, setting out the technological, demographic, and transportation shifts that defined and drove them..
The Los Angeles riots shattered Korean immigrants’ naive belief in the American dream. As many as 2,300 Korean shopkeepers lost their lifetime investments in one day. Korean immigrants had struggled for years to become economically independent through small businesses of their own. However, the riots made them realize how fragile their economic base is because their businesses are dependent on the impoverished, oppressed, and rebellious classes.
In On My Own, In-Jin Yoon combines an intimate fieldwork account of Korean-black relations in Chicago and Los Angeles with extensive quantitative analysis at the national level. Yoon argues that a complete understanding of the contemporary Korean-American community requires systematic analyses of patterns of Korean immigration, entrepreneurship, and race relations with other minority groups. He explains how small business has become the major economic activity of Korean immigrants and how Korean businesses in minority neighborhoods have intensified racial tensions between Koreans and minorities like blacks and Latinos.
“A groundbreaking study of Korean-black relations. Yoon’s insights on immigration, entrepreneurship, and race relations significantly enhance our understanding of urban racial tensions.”—William Julius Wilson, Harvard University
Even after the recent economic crisis, cultural and creative industries are still able to easily draw audience members and consumers, as well as new talent to enrich these fields. Exploring the topic from economic, artistic, and policymaking perspectives, Pioneering Minds Worldwide is an interdisciplinary approach to these trades on a global scale, while making an important distinction between the cultural sector—products that are consumed on the spot, such as concerts or dance performances—and the creative sector, which generates artistic products that we have a protracted interaction with, i.e. design, architecture, and advertising. The authors of these highly informative essays offer new concepts and viewpoints on the entrepreneurial dimension of the cultural and creative industries in sixteen countries and explore how urban area development, new technological innovations, and education all influence these continually expanding industries.
The Rise of the Entrepreneurial State charts the development of state and local government initiatives to influence the market and strengthen economic development policies. This trend marked a decisive break from governments’ traditionally small role in the affairs of private industry that defined the relationship between the public and private sector for the first half of the twentieth century. The turn to state and local government intervention signaled a change in subnational politics that, in many ways, transcended partisan politics, regional distinctions ,and racial alliances.
Eisinger’s meticulous research uncovers state and local governments’ transition from supply-side to demand-side strategies of market creation. He shows that, instead of relying solely on the supply-side strategies of tax breaks and other incentives to encourage business relocation, some governments promoted innovation and the creation of new business approaches.
The number of immigrants in the US science, technology, engineering, and mathematics (STEM) workforce and among recipients of advanced STEM degrees at US universities has increased in recent decades. In light of the current public debate about immigration, there is a need for evidence on the economic impacts of immigrants on the STEM workforce and on innovation. Using new data and state-of-the-art empirical methods, this volume examines various aspects of the relationships between immigration, innovation, and entrepreneurship, including the effects of changes in the number of immigrants and their skill composition on the rate of innovation; the relationship between high-skilled immigration and entrepreneurship; and the differences between immigrant and native entrepreneurs. It presents new evidence on the postgraduation migration patterns of STEM doctoral recipients, in particular the likelihood these graduates will return to their home country. This volume also examines the role of the US higher education system and of US visa policy in attracting foreign students for graduate study and retaining them after graduation.
Poland in the 1980s was filled with shuttered restaurants and shops that bore such imaginative names as “bread,” “shoes,” and “milk products,” from which lines could stretch for days on the mere rumor there was something worth buying. But you’d be hard-pressed to recognize the same squares—buzzing with bars and cafés—today. In the years since the collapse of communism, Poland’s GDP has almost tripled, making it the eighth-largest economy in the European Union, with a wealth of well-educated and highly skilled workers and a buoyant private sector that competes in international markets. Many consider it one of the only European countries to have truly weathered the financial crisis.
As the Warsaw bureau chief for the Financial Times, Jan Cienski spent more than a decade talking with the people who did something that had never been done before: recreating a market economy out of a socialist one. Poland had always lagged behind wealthier Western Europe, but in the 1980s the gap had grown to its widest in centuries. But the corrupt Polish version of communism also created the conditions for its eventual revitalization, bringing forth a remarkably resilient and entrepreneurial people prepared to brave red tape and limited access to capital. In the 1990s, more than a million Polish people opened their own businesses, selling everything from bicycles to leather jackets, Japanese VCRs, and romance novels. The most business-savvy turned those primitive operations into complex corporations that now have global reach.
Well researched and accessibly and entertainingly written, Start-Up Poland tells the story of the opening bell in the East, painting lively portraits of the men and women who built successful businesses there, what their lives were like, and what they did to catapult their ideas to incredible success. At a time when Poland’s new right-wing government plays on past grievances and forms part of the populist and nationalist revolution sweeping the Western world, Cienski’s book also serves as a reminder that the past century has been the most successful in Poland’s history.
Unexceptional Women:Female Proprietors in Mid-Nineteenth-Century Albany, New York, 1830–1885 by Susan Ingalls Lewis challenges our conceptions about mid-nineteenth-century American women, business, and labor, offering a detailed study of female proprietors in one industrializing American city. Analyzing the careers of more than two thousand women who owned or operated businesses between 1830 and 1885, Lewis argues that business provided a common, important, and varied occupation for nineteenth-century working women. Based on meticulous research in city directories, census records, and credit reports, this study provides both a demographic portrait of Albany’s female proprietors and an examination of the size, scope, longevity, financing, and creditworthiness of their ventures.
Although the growing city did produce several remarkable businesswomen in trades as diverse as hotel management, plumbing, and the marketing of pianos on the installment plan, Albany’s female proprietors were most often self-employed artisans, shopkeepers, petty manufacturers, and service providers. These women used business as a method of self-employment and survival, as a means of both individual and family mobility, and as a strategy for immigrant assimilation into an urban economy and middle-class lifestyle.
Intriguingly, among the ranks of Albany’s female proprietors Lewis discovered substantial evidence of such supposedly recent phenomena as self-employment, dual-income marriages, working motherhood, home-based business, and the juggling of domestic and professional priorities. The stories of these businesswomen make fascinating reading while simultaneously providing the basis for a theoretical discussion of how to define and understand enterprise for mid-nineteenth-century women.
VC: An American History
Tom Nicholas Harvard University Press, 2019 Library of Congress HG4751.N525 2019 | Dewey Decimal 332.041540973
“In principle, venture capital is where the ordinarily conservative, cynical domain of big money touches dreamy, long-shot enterprise. In practice, it has become the distinguishing big-business engine of our time…[A] first-rate history.” —New Yorker
“An excellent and original economic history of venture capital.” —Tyler Cowen, Marginal Revolution
“It is an article of faith that ready access to venture capital makes an economy more dynamic. Nicholas frames the case historically.” —Wall Street Journal
“A detailed, fact-filled account of America’s most celebrated moneymen.” —New Republic
VC tells the riveting story of how the venture capital industry arose from America’s longstanding identification with entrepreneurship and risk-taking. Whether the venture is a whaling voyage setting sail from New Bedford (as in VC’s infancy) or the latest Silicon Valley startup, VC is a state of mind as much as a way of doing business, exemplified by an appetite for seeking extreme financial rewards, a tolerance for failure and experimentation, and a faith in the promise of innovation to generate new wealth.
Tom Nicholas’s authoritative history takes us on a roller coaster of entrepreneurial successes and setbacks. It describes how iconic firms like Kleiner Perkins and Sequoia invested in Genentech and Apple as it tells the larger story of VC’s birth and evolution, revealing along the way why it is such a quintessentially American institution—one that has proven difficult to recreate elsewhere.