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Benson:

 

In economics we have the "Free Market Theory".... Now, is there perfect information? No, but there is in theory ... Is there cero transaction cost? No, but there is none in theory ... One thing is for sure about Free Market Theory: surmounting evidence that the "developing countries" that have established market system, which has allow them to open the economy to trade with the world in the last 3 decades, show significantly higher, and sustained, levels of economic growth compared with countries that have remained in centralized economic systems.      

Following the theoretical line of thought into entrepreneurship, in spite of the increasing number of theories we are developing and using in academia to teach our students ... we, and our students, learn what entrepreneurship is when we practice it ourselves and have to confront real risks in the market place ... Needless to say, Drucker's fundamental business questions are a most significant help for entrepreneurs, in theory and in practice: What is our business? Who is our customer? What does our customer consider valuable?

<nitf>Maria-Teresa Lepeley  </nitf>

President & CEO

Global Institute for Quality Education - GIQE - <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region>

Instituto Global de Calidad en Educacion - IGCE - Latin America

Tel: 1-860-888-3807

E-mail: <st1:personname w:st="on">mtlepeley@globalqualityeducation.org</st1:personname>

 

-----Original Message-----
From: Benson Honig [mailto:bhonig@WLU.CA]
Sent: Thursday, February 08, 2007 8:48 PM
To: ENTREP@AOMLISTS.PACE.EDU
Subject: Re: [ENTREP] Free Market Economy, why? Re: [ENTREP] what's the point of entrepreneurship?

 

Bill is correct. There is no such thing as a free market, anymore than there is such a thing as perfect information, or perfect competition. Economists refer to public goods, externalities, and  "market failures". Imagine if, everytime you called the police to report a crime, you had to give them your credit card number (pay police). Or for your protection by (or from)  the army....The best reference regarding this is Karl Polanyi's classic work, the Great Transformation. Some markets have fewer constraints than others, but there is no such thing as a free market, not every transaction is rational, and corruption is always a potential factor. And, yes, the <st1:country-region w:st="on"><st1:place w:st="on">US</st1:place></st1:country-region>, despite rhetoric otherwise, is heavily protected and NOT a free market. <st1:country-region w:st="on"><st1:place w:st="on">Iraq</st1:place></st1:country-region>, most recently...well... that might be closer to a free market!

Benson

 

Benson Honig Ph.D.

Betty and Peter Sims Professor of Entrepreneurship,

Director, NeXt

<st1:place w:st="on"><st1:placename w:st="on">Wilfrid</st1:placename> <st1:placename w:st="on">Laurier</st1:placename> <st1:placetype w:st="on">School</st1:placetype></st1:place> of Business and Economics

<st1:place w:st="on"><st1:city w:st="on">Waterloo</st1:city> <st1:state w:st="on">Ontario</st1:state> <st1:country-region w:st="on">Canada</st1:country-region></st1:place> N2L3C5

Tel: 519-884-0710 ext.2909

fax: 519-884-0201

Cell: 905-518-1716

email: bhonig@wlu.ca

 

 

>>> "William D. Schulte" <wschulte@MSN.COM> 02/08/07 2:36 PM >>>

Free Markets?  Where is this world do you have a free market?  If you are

considering the <st1:country-region w:st="on"><st1:place w:st="on">US</st1:place></st1:country-region> as a "free market" then I would like to know how to

access it.  For people in Ninth Ward where the market, institutions and

government failed the most effective response was by those with an

entrepreneurial mindset regardless of whether they work for the Coast Guard,

Church group from <st1:city w:st="on"><st1:place w:st="on">Asheville</st1:place></st1:city>, local, state and even federal government and

small businesses. The individual made a difference there after Katrina.

Those who thought like entrepreneurs. They saw an opportunity to hlep others

(in some cases to steal from others - carpetbaggers).  Your thoughts.  

Bayou Bill

 

 

>From: "DeBerg, Curtis" <CDeBerg@CSUCHICO.EDU>

>Reply-To: "DeBerg, Curtis" <CDeBerg@CSUCHICO.EDU>

>To: ENTREP@AOMLISTS.PACE.EDU

>Subject: Re: [ENTREP] Free Market Economy, why? Re: [ENTREP] what's the

>point of entrepreneurship?

>Date: Wed, 7 Feb 2007 17:22:07 -0800

> 

>Free markets are not a necessary condition for entrepreneurship, but if one

>is selling a new product or process, it certainly helps to have a free

>market (unless you a member of the ruling party).  The necessary conditions

>for entrepreneurship are innovation and risk.

> 

> 

> 

>Let's take this a step further.  Do "social entrepreneurs" need a free

>market for their products, processes or ideas? Not necessarily. They may

>live in a country where there are no free markets, but they are certainly

>innovative and risk-taking. Recent Nobel Peace prize winner, Dr. Mohammed

>Yunnus, is the epitome of a social entrepreneur, having created the Grameen

>Bank micro-lending program started in <st1:country-region w:st="on"><st1:place w:st="on">Bangladesh</st1:place></st1:country-region>. He didn't sell a product;

>he sold an idea and a service which was enhanced by borrowers who were able

>to sell goods and services in a free market.

> 

> 

> 

>One last note. To see a wonderful, short piece by the academic "father" of

>social entrepreneurship, see

>http://www.fuqua.duke.edu/centers/case/documents/dees_sedef.pdf. <st1:place w:st="on">Dees</st1:place>

>provides a bit of history of the meaning entrepreneur, and includes varying

>definitions by Jean Baptiste-Say, Joseph Schumpeter, Peter Drucker and

>Howard Stevenson.

> 

> 

> 

>Sincerely,

> 

>Curt

> 

>Dr. Curtis L. DeBerg

>Professor of Business

><st1:placename w:st="on">California</st1:placename> <st1:placetype w:st="on">State</st1:placetype> <st1:placetype w:st="on">University</st1:placetype>, <st1:city w:st="on"><st1:place w:st="on">Chico</st1:place></st1:city>

><st1:place w:st="on"><st1:city w:st="on">Chico</st1:city>, <st1:state w:st="on">CA</st1:state> <st1:postalcode w:st="on">95929-0011</st1:postalcode></st1:place>

>(530)-898-4824

>cdeberg@csuchico.edu

>Founder, SAGE - http://www.csuchico.edu/sage

>skype id: cdeberg

> 

>________________________________

> 

>From: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU]

>On Behalf Of Romie Littrell

>Sent: Tuesday, February 06, 2007 6:46 PM

>To: ENTREP@AOMLISTS.PACE.EDU

>Subject: [ENTREP] Free Market Economy, why? Re: [ENTREP] what's the point

>of entrepreneurship?

> 

> 

> 

>Why is a free market economy necessary for entrepreneurship? Entrepreneurs

>exist in every economy?

> 

>Maria-Teresa Lepeley <mtlepeley@GLOBALQUALITYEDUCATION.ORG> wrote:

> 

>Paola:

> 

> 

> 

>You have posted a very relevant question! Look, there is nothing new about

>entrepreneurship because "people willing to undertake risk on personal

>resources to obtain an income in return, and be independent, is indeed one

>of the oldest "professions" to earn a living". Schumpeter is right by

>claiming that economic progress (and I would add social development),

>largely depend on entrepreneurial development. Nevertheless we need to be

>aware that a free market economy is a necessary condition for

>entrepreneurial growth and development, as much as to acknowledge the fact

>that small business enterprises are the real engine of growth in market

>economies.

> 

> 

> 

>So far the discipline of entrepreneurship is more a profession than an

>academic subject. It is indeed a more recent field of study in academia,

>but entrepreneurial education has been offered extensively by professional

>institutions around the world and now it is rapidly blooming in the best

>business schools worldwide. In the <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region>, for instance, the number

>of business schools offering entrepreneurial studies has grown

>exponentially in the last 5 years.

> 

> 

> 

>I agree with Luiz Okima about the importance of the Global Entrepreneurship

>Monitor www.gemconsortuin.org <http://www.gemconsortuin.org/>  You will

>find a wealth of information there. I suggest you to review GEM's Report on

>Women in Entrepreneurship. It includes unique and valuable comparisons

>among nations. I have created entrepreneurial education programs for women

>in the <st1:country-region w:st="on">United States</st1:country-region>, Latin America, and the <st1:place w:st="on">Middle East</st1:place>, and I consider

>this field critical to foster economic growth in the 21st Century.

> 

> 

> 

>Best luck in your studies on social entrepreneurship ... You will truly

>find out what social entrepreneurship is "when and if you practice it

>yourself"! Social entrepreneurship is becoming a very important endeavor

>around the world.

> 

>Maria-Teresa Lepeley

>President & CEO

> 

>Global Institute for Quality Education - GIQE - <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region>

>Instituto Global de Calidad en Educacion - IGCE - <st1:place w:st="on">Latin America</st1:place>

>Tel: 1-860-888-3807

>www.globalqualityeducation.org <http://www.globalqualityeducation.org/>

> 

>________________________________

> 

>From: Luiz Ojima Sakuda [mailto:luiz@SAKUDA.COM]

>Sent: Monday, February 05, 2007 9:47 AM

>To: ENTREP@AOMLISTS.PACE.EDU

>Subject: Re: [ENTREP] what's the point of entrepreneurship?

> 

> 

> 

>Paola, it's not a silly question. I think that all of us asked ourselves at

>least once the same question.

> 

> 

> 

>I think a way to begin is to exchange opinions about Global

>Entrepreneurship Monitor (http://www.gemconsortium.org/), and other

>research projects that are international and annual like it.

> 

> 

> 

>Best,

> 

> 

> 

>Luiz Ojima Sakuda

> 

>UniFEI - <st1:country-region w:st="on"><st1:place w:st="on">Brazil</st1:place></st1:country-region>

> 

>www.fei.edu.br <http://www.fei.edu.br/>

> 

> 

> 

>________________________________

> 

>From: <st1:personname w:st="on">Paola Grenier</st1:personname> [mailto:p.m.grenier@LSE.AC.UK]

>Sent: Saturday, February 03, 2007 5:07 AM

>To: ENTREP@AOMLISTS.PACE.EDU

>Subject: [ENTREP] what's the point of entrepreneurship?

> 

> 

> 

>I am studying social entrepreneurship, and though I have read a lot on

>entrepreneurship I am not as imbued with the literature as many people.

> 

> 

> 

>I know that Schumpeter claimed that economic progress is dependent on

>entrepreneurship. I also know that economics as a discipline has had little

>to do with the entrepreneurship. A few years ago I read Wilken's work -

>Entrepreneurship: A comparative and historical study - where he concludes

>that entrepreneurship is not a causal factor in industrial revolutions but

>rather a 'mediating variable'. I was wondering what other research there is

>which questions empirically what the impact of entrepreneurship is at the

>level of the economy. I am interested in what proof there is that

>entrepreneurship does lead to economic progress and prosperity - and if it

>does, then what sort of entrepreneurship.

> 

> 

> 

>thanks for 'listening', and apologies if this is a silly question.

> 

> 

> 

>Paola

> 

> 

> 

> 

> 

> 

> 

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> 

> 

> 

>"International business is the general case; local business is the special

>case." - Peter J. Buckley

>Romie F. Littrell, BA, MBA,PhD, FIAIR, An fánaí fiáin

>AUT Business School N.Z., romie.littrell@aut.ac.nz

>http://www.romielittrellpubs.homestead.com/

>http://www.crossculturalcentre.homestead.com/

>Facilitator, Leadership & Management in Sub-Sahara <st1:place w:st="on">Africa</st1:place> Conferences

> 

> 

> 

>________________________________

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