Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of...

Recent surveys show that more than half of American entrepreneurs share ownership in their business startups rather than going it alone. Yet the media and many scholars continue to perpetuate the myth of the lone visionary who single-handedly revolutionizes the marketplace. In The Entrepreneurial Group, Martin Ruef shatters this myth, demonstrating that teams, not individuals, are the leading force behind entrepreneurial startups. This is the first book to provide an in-depth sociological analysis of entrepreneurial groups, and to put forward a theoretical framework for...

For much of the twentieth century, American corporations led the world in terms of technological progress. Why did certain industries have such great success? Experimental Capitalism examines six key industries--automobiles, pneumatic tires, television receivers, semiconductors, lasers, and penicillin--and tracks the highs and lows of American high-tech capitalism and the resulting innovation landscape. Employing "nanoeconomics"--a deep dive into the formation and functioning of companies--Steven Klepper determines how specific companies emerged to become the undisputed leaders that...