Against Innovation, Against Entrepreneurship (WITHDRAWN) (original) (raw)

Academy of Management Proceedings, 2014

Abstract

This paper argues that Kirzner’s rendition of the entrepreneurial function is the most appropriate for understanding what Marazzi (2011) calls the ‘Google Model of Production’ (Marazzi, 2011). It argues that rather than imagining or creating, the entrepreneurial function located in value capture best describes the contemporary economy. Within this economy, the dispersed knowledge of individuals who act as free or subsidized labourers/consumers/users, is captured and its use concentrated by corporations through the use of property rights and other forms of ‘lock-in’ in order to take quasi-monopoly rents. Furthermore, because this entrepreneurial function restricts the use of dispersed knowledge the potential for innovation and productivity is limited by making non-rival, non-excludable goods both rival and excludable.

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