Entrepreneurship: too risky to let loose in a stormy climate?

Rae, David (2009) Entrepreneurship: too risky to let loose in a stormy climate? Entrepreneurship and Innovation , 10 (2). pp. 137-147. ISSN 1465-7503

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Abstract

Entrepreneurship, ‘the pursuit of opportunity regardless of the consequences’, is a privileged instrument of liberal market economics worldwide. Yet the financial turmoil resulting from the credit crunch suggests that the social and economic effects of unregulated entrepreneurial
behaviour in pursuit of short-term profit are severe and
self-defeating, resulting in massive destruction of value for national
economies, businesses and individuals. This article examines the wider
consequences of this ‘old’ entrepreneurship and, using examples, proposes
the development of a ‘new’ entrepreneurship led by education, of which
social responsibility, environmental sustainability and the practice of
ethical and moral frameworks become integral components.

Item Type:Article
Additional Information:Entrepreneurship, ‘the pursuit of opportunity regardless of the consequences’, is a privileged instrument of liberal market economics worldwide. Yet the financial turmoil resulting from the credit crunch suggests that the social and economic effects of unregulated entrepreneurial behaviour in pursuit of short-term profit are severe and self-defeating, resulting in massive destruction of value for national economies, businesses and individuals. This article examines the wider consequences of this ‘old’ entrepreneurship and, using examples, proposes the development of a ‘new’ entrepreneurship led by education, of which social responsibility, environmental sustainability and the practice of ethical and moral frameworks become integral components.
Keywords:recession, ethical entrepreneurship, social responsibility, Entrepreneurship, bmjpub
Subjects:N Business and Administrative studies > N100 Business studies
Divisions:College of Social Science > Lincoln Business School
ID Code:2617
Deposited By: Rosaline Smith
Deposited On:08 Jun 2010 18:19
Last Modified:13 Mar 2013 08:39

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