Critique of Entrepreneurship: People and Policy by Peter Armstrong

By Peter Armstrong

The sponsorship of the entrepreneur as an agent of financial development is now on the centre of an enormous promotional undefined, regarding politicians, executive departments and better schooling. This publication examines the origins of this phenomenon and topics its mythologies, hero-figures and regulations to an empirically dependent serious exam.

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Extra info for Critique of Entrepreneurship: People and Policy

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The Genesis of Entrepreneurialism 35 Before all this effort could bear fruit, however, it had to become clear that the corporate economy on both sides of the Atlantic was no longer delivering the goods. Crisis In its mature form, Fordism was far more than a system of production. As described by Bowles, Gordon and Weisskopf (1990, pp. 47–8) it was the productive heart of a whole social structure of accumulation. There were four basic and interdependent elements, all of which began to unravel in the late 1970s.

These included a 10 per cent import tax, a 10 per cent cut in foreign aid and a $5bn cut in federal spending. In an attempt to stimulate investment there were accelerated depreciation allowances for the corporations and a 10 per cent investment tax credit for the purchase of American-made machinery. To control inflation head-on, there was an immediate 90-day freeze on incomes and prices, to be followed up by a Cost of Living Council. Most important, the ‘dollar overhang’, that is the excess of the dollars in circulation over the value of the gold held in Fort Knox, had reached such proportions that the dollar was taken off the gold standard (McQuaid, 1982, pp.

Encouraged by his reception at the invitation lectures which followed the publication of The Road to Serfdom, he organized the inaugural meeting of an international liberal society on 1 April 1947. The venue was the Hotel du Parc on the slopes of Mont Pérelin overlooking Lac Leman (Cockett, 1994, p. 108). With Hayek as President, the core programme of the Mont Pérelin Society was the promotion of market liberalism, though the group also seemed to tap into a more generalized sense that the times were out of joint.

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