Entrepreneurial action and the rules of the game. An editorial to introduce the Journal of Entrepreneurship and Public Policy
| DOI | https://doi.org/10.1108/20452101211208326 |
| Published date | 20 April 2012 |
| Date | 20 April 2012 |
| Pages | 4-11 |
| Author | Noel D. Campbell |
| Subject Matter | Strategy |
Entrepreneurial action and
the rules of the game
An editorial to introduce the Journal of
Entrepreneurship and Public Policy
Noel D. Campbell
EFIRM, University of Central Arkansas, Conway, Arkansas, USA
Abstract
Purpose – The purpose of this editorial is to introduce the Journal of Entrepreneurship and Public
Policy (JEPP).
Design/methodology/approach – The paper outlines the primary objectives of JEPP.
Findings –JEPP was created to encourage and disseminate quality research about the vital
relationships among institutions, entrepreneurship and economic outcomes. JEPP ’s aim is to improve
the quality of scholarly and public discourse about entrepreneurship and development policies.
In general, JEPP seeks high-quality articles that say something interesting about public policy,
entrepreneurship and economic development.
Originality/value – The editorial describes the thinking behind JEPP, and the journal’s objectives.
JEPP welcomes all scholars and individuals with professional or personal interests in acquiring and
sharing knowledge about institutions, entrepreneurship, and economic outcomes.
Keywords Entrepreneurship, Entrepreneurialism, Public policy, Growth, Development, Institutions
Paper type Viewpoint
1. Entrepreneurship and the rules of the game
Entrepreneurship is a widely variable phenomenon, and it defies easy explan ation or
the formation of easy expectations. However, like many other complicated ideas,
entrepreneurship is of paramount importance to societies. At root, entrepreneurship is
about risking time, treasure, and resources to pursue a perceived gainful opportunity
through the creation of novelty (such as in Schumpeter (1942) and elsewhere) or the
reduction of ignorance (such as developed over decades by Israel Kirzner). Usually,
the expected gain is to go to the actor, the entrepreneur, but not always. Frequently, the
perceived opportunity lies in the market, but not always. Entrepreneurship is as easily
found in our political lives as it is in our economic lives. Baumol’s (1990) popular article
points out that entrepreneurship may be productive, unproductive, or destructive to
society’s wealth. Entrepreneurship is also – and appears to always have been –
widespread in human societies. Where you have humans, you will find some form of
entrepreneurship. Everyone has the potential and the facility to be an entrepreneur, but
some people have more; others have less. Some people choose to act on this potential;
others, less so.
Entrepreneurship both is influenced by and influences the institutions of ou r
societies. That is, entrepreneurship responds to the “rules of the game,” and
entrepreneurship has increasingly become the object of the rules of the game. Business
and social science researchers often refer to the “rules of the game” and “institutions.”
Both terms refer to the guidelines of social and economic interaction that most people
know and usually follow. These guidelines may be formal – such as laws, court
rulings, written regulations, and public programs – or they may be informal – such as
The current issue and full text archive of this journal is available at
www.emeraldinsight.com/2045-2101.htm
Journal of Entrepreneurship and
Public Policy
Vol. 1 No. 1, 2012
pp. 4-11
rEmeraldGroup PublishingLimited
2045-2101
DOI 10.1108/20452101211208326
4
JEPP
1,1
To continue reading
Request your trial