Entrepreneurship and Dynamic Capitalism: The Economics of Business Firm Formation and Growth

(Hardback)

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Kirchhoff blends economics, business, and governemnt policy to demonstrate that entrepreneurship's role in business formation and growth energizes and maintains the viability of capitalism. Entrepreneurs convert new ideas into marketable products and services and use these to grab market shares from older, established firms. This process not only produces economic growth, but also redistributes resources so as to assure equitable distribution within society. Acknowledging that this perception is descriptive but lacks predictive power, Kirchhoff offers a typology to assist in predictive theory building and to guide government policy development.

Author Bio

BRUCE A. KIRCHHOFF is Professor of Entrepreneurship at the School of Industrial Management at the New Jersey Institute of Technology. Prior to becoming a professor, he spent ten years in sales, marketing and international business with two corporations. During his 23 years as a professor, he took time out to start two high technology businesses and to serve as Chief Economist of the U.S. Small Business Administration and later as an Assistant Director for the Minority Business Development Agency. He has served the International Council for Small Business as President, Financial Vice President and serves on the Steering Committee of the International Small Business Congress. He is on the Board of Editors of the Small Business Forum, the Journal of Small Business Management and Entrepreneurship Theory and Practice.