The Foundational Contribution to Entrepreneurship Research of William J. Baumol
Strategic Entrepreneurship Journal · 2016 · Volume 10 · Issue 2
Abstract
William J. Baumol has made an impressive number of important contributions to our understanding of entrepreneurship. This article presents an interview in which Baumol discusses the role and importance of innovation in the economy, as well as his views on methodological and pedagogical issues. In addition to summarizing briefly Baumol's classic argument on productive, unproductive, and destructive entrepreneurship, the article highlights some areas of his work that are less known among entrepreneurship scholars. In particular, the article discusses Baumol's work on economic growth and his theory of contestable markets. Both topics offer fruitful research venues for those interested in the relationship between strategic entrepreneurship, market entry, and innovation. Copyright © 2016 Strategic Management Society.
Keywords
Baumol, productive entrepreneurship, innovative entrepreneur, contestable market, cost disease, economics
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