• Publications
  • Influence
Entrepreneurship: Productive, Unproductive, and Destructive
  • W. Baumol
  • Economics
  • Journal of Political Economy
  • 1 October 1990
The basic hypothesis is that, while the total supply of entrepreneurs varies among societies, the productive contribution of the society's entrepreneurial activities varies much more because of theirExpand
American Economic Association Macroeconomics of Unbalanced Growth : The Anatomy of Urban Crisis
There are some economic forces so powerful that they constantly break through all barriers erected for their suppression. Such, for example, are the forces of supply and demand which have resistedExpand
Productivity Growth, Convergence, and Welfare: What the Long-run Data Show
Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, GDP per capita and exports and the remarkable convergence of productivities of industrializedExpand
The Transactions Demand for Cash: An Inventory Theoretic Approach
Introduction, 545. — I. A simple model, 545. — II. Some consequences of the analysis, 549. — III. The simple model and reality, 552.
Contestable Markets and the Theory of Industry Structure
Objectives and Orientation. Industry Structure and Performance in Perfectly Contestable Markets: The Single Product Case. Ray Behavior and Multiproduct Returns to Scale. Cost Concepts Applicable toExpand
Contestable Markets: An Uprising in the Theory of Industry Structure
Presents a transcript of the presidential address delivered at the 94th Meeting of the American Economic Association on December 29, 1981. Discussion of developments in the theory of industryExpand
The Free-Market Innovation Machine - Analyzing the Growth Miracle of Capitalism
Preface vii CHAPTER 1: Introduction: The Engine of Free-Market Growth 1 PART I: THE CAPITALIST GROWTH MECHANISM CHAPTER 2: The "Somewhat Optimal" Attributes of Capitalist Growth: OligopolisticExpand
Entrepreneurship in Economic Theory
Examines the historic inability of economic theory to develop a formal analysis of entrepreneurship. The entrepreneur is the major catalyst to the process of economic growth, a central force in bothExpand