European Entrepreneurial Culture

Table of Contents

I Defining entrepreneurship

II The role of entrepreneurship for the EU’s economic strategy

1. The Schumpeter Mark I regime (first decades of the 20th century)

2. The Schumpeter Mark II regime or the “Managed Economy” (from the 1940s to the 1970s)

3. The Entrepreneurial Economy (from the late 1970s onwards)

III Entrepreneurship policy

IV Determinants of entrepreneurship

V Fostering entrepreneurship in Europe

Conclusion

Objectives and Topics

The dissertation aims to explore how the European Union integrates the concept of the 'entrepreneurial economy' into its policy-making framework, particularly in the absence of a dedicated horizontal entrepreneurship policy. It examines the shift from managed to entrepreneurial economic models and assesses how various EU policy instruments address the determinants of entrepreneurship.

• Evolution of the European economic strategy from managed to entrepreneurial economies.
• Theoretical analysis of entrepreneurship and its determinants at micro, meso, and macro levels.
• Evaluation of EU policies using the Eclectic Framework of Entrepreneurship.
• The role of Small and Medium-sized Enterprises (SMEs) in fostering economic innovation and growth.
• Mechanisms for policy intervention to address market failures and promote entrepreneurial activity.

Excerpt from the book

Summary of Chapters

I Defining entrepreneurship: This chapter highlights the lack of consensus regarding the definition of entrepreneurship and explores its interdisciplinary nature as a multifaceted economic and social phenomenon.

II The role of entrepreneurship for the EU’s economic strategy: This chapter tracks the historical shift from the managed economy of the post-WWII era to the modern entrepreneurial economy and its significance for EU growth.

III Entrepreneurship policy: This chapter investigates the rationale for government intervention and the distinction between SME-focused policy and broader entrepreneurship policy.

IV Determinants of entrepreneurship: This chapter outlines the micro, meso, and macro determinants of entrepreneurial activity, using the Eclectic Framework of Entrepreneurship as an analytical tool.

V Fostering entrepreneurship in Europe: This chapter evaluates existing EU initiatives and demonstrates how the Eclectic Framework can be applied to test policy effectiveness in the European context.

Keywords

Entrepreneurship, European Union, SME Policy, Entrepreneurial Economy, Market Failures, Schumpeterian Theory, Knowledge-Based Economy, Innovation, Policy Intervention, Economic Growth, Eclectic Framework, Entrepreneurial Capital, Small and Medium-sized Enterprises, Competitiveness, Public Policy.

Frequently Asked Questions

What is the primary focus of this dissertation?

The work focuses on how the European Union incorporates the vision of an 'entrepreneurial economy' into its current policy apparatus, specifically examining the transition from large-scale managed economies to entrepreneurial ecosystems.

What are the central themes covered in the book?

The main themes include the historical evolution of economic strategies in Europe, the theoretical definitions of entrepreneurship, the rationale for public policy interventions, and the practical challenges of fostering SMEs within the EU.

What is the core research objective?

The core objective is to discuss and analyze how the EU manages its enterprise policies and to evaluate them through the lens of the 'Eclectic Framework of Entrepreneurship'.

Which scientific methodology is applied?

The author utilizes an interdisciplinary approach, drawing on economic history, policy analysis, and the 'Eclectic Framework of Entrepreneurship' developed by Audretsch et al. to test and categorize various policy types.

What does the main body of the work address?

The main body systematically covers the conceptual definition of entrepreneurship, the historical context of the managed vs. entrepreneurial economy, the necessity of policy intervention due to market failures, and the specific application of policy types in Europe.

Which keywords define this research?

Key terms include entrepreneurship, SME policy, European Union, economic strategy, market failure, and the Eclectic Framework.

How does the author define the 'managed economy'?

The managed economy is defined as the political, social, and economic response to an era dominated by large-scale production, where capital and (unskilled) labor were the primary sources of competitive advantage.

What is the 'Think Small First' principle?

It is a core principle enshrined in the Small Business Act (SBA), implying that policy-makers should prioritize SME interests at the earliest stages of policy development.

What role does 'creative destruction' play in Schumpeter's theory?

Creative destruction is described as a process of industrial reorganization where new inventions and entrepreneurs render existing technologies and obsolete businesses redundant, thus driving economic development.

Why are market failures used to justify policy intervention?

Policy intervention is deemed necessary to address specific market failures such as the concentration of market power, information asymmetries, and network or learning externalities that hinder entrepreneurial vitality.