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(2001) Capitalism and democracy in the 21st century, Heidelberg, Physica.
Capitalism and democracy in the 21st century
from the managed to the entrepreneurial economy
David B. Audretsch, A. Roy Thurik
pp. 23-40
This paper explains how and why the developed countries are undergoing a fundamental shift away from a managed economy and towards an entrepreneurial economy. This shift is shaping the development of western capitalism and has triggered a shift in government policies away from constraining the freedom of business to contract through regulation, public ownership and antitrust towards a new set of enabling policies which foster the creation and commercialization of new knowledge. The empirical evidence from a cross-section of countries over time suggests that those countries that have experienced a greater shift from the managed to the entrepreneurial economy have had lower levels of unemployment.
Publication details
DOI: 10.1007/978-3-662-11287-8_2
Full citation:
Audretsch, D. B. , Thurik, A. (2001)., Capitalism and democracy in the 21st century: from the managed to the entrepreneurial economy, in D. C. Mueller & U. Cantner (eds.), Capitalism and democracy in the 21st century, Heidelberg, Physica, pp. 23-40.