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Books > Business & Economics > Economics > Economic theory & philosophy
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The Entrepreneurial Factor in Economic Growth (Hardcover)
Loot Price: R4,408
Discovery Miles 44 080
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The Entrepreneurial Factor in Economic Growth (Hardcover)
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The supply of entrepreneurship is a crucial factor in economic
growth, although it is often overlooked in modern economic theory.
The main reason for this oversight is that the theory is dominated
by the model of perfect competition which, by assuming perfect
knowledge, excludes any role for the entrepreneur. There may be
imperfect knowledge of many things, including the qualities and
prices of products, the qualities and price of factors of
production, and technology. Whilst economic theory has given
considerable attention to the first of these forms of imperfection,
economists have done little about the other two. Yet all three are
important in accounting for the role of the entrepreneur.
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