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A wrong but seductive idea: Public choice and the entrepreneurial state

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  • Jeff Muldoon
  • Derek K. Yonai

Abstract

We offer a critique of Mazzucato’s idea of the “Entrepreneurial State.” In doing so, we extend the criticisms developed by the authors of Questioning the Entrepreneurial State by using the insights derived from Public Choice economics. Specifically, we argue the following: (a) the entrepreneurial state is a rhetorical device and does not reflect actual government actions, (b) goals help create common purpose but are insufficient by themselves, and (c) rent-seeking will occur. Finally, we discuss the role that the state should play in entrepreneurial activities.

Suggested Citation

  • Jeff Muldoon & Derek K. Yonai, 2023. "A wrong but seductive idea: Public choice and the entrepreneurial state," Journal of the International Council for Small Business, Taylor & Francis Journals, vol. 4(4), pages 351-361, October.
    • Handle: RePEc:taf:ucsbxx:v:4:y:2023:i:4:p:351-361
    DOI: 10.1080/26437015.2023.2182730
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    Cited by:

    1. Björnemalm, Rickard & Sandström, Christian & Åkesson, Nelly, 2023. "A Public Choice Perspective on Mission-Oriented Innovation Policies and the Behavior of Government Agencies," Ratio Working Papers 366, The Ratio Institute.
    2. Christian Sandström & Evan Eskilson, 2024. "Is Hydrogen a green bubble?," Journal of Evolutionary Economics, Springer, vol. 34(3), pages 699-704, July.
    3. Jeffrey Muldoon & Younggeun Lee & Eric W. Liguori & Saumyaranjan Sahoo & Satish Kumar, 2024. "Mapping the entrepreneurship ecosystem scholarship: current state and future directions," International Entrepreneurship and Management Journal, Springer, vol. 20(4), pages 3035-3080, December.
    4. Magnus Henrekson & Christian Sandström & Mikael Stenkula, 2024. "Learning from Overrated Mission-Oriented Innovation Policies: Seven Takeaways," International Studies in Entrepreneurship, in: Magnus Henrekson & Christian Sandström & Mikael Stenkula (ed.), Moonshots and the New Industrial Policy, pages 235-255, Springer.
    5. Magnus Henrekson & Christian Sandström & Mikael Stenkula, 2024. "Seven reasons why mission‐oriented innovation policies seldom work in practice," Economic Affairs, Wiley Blackwell, vol. 44(2), pages 354-362, June.
    6. Magnus Henrekson & Christian Sandström & Mikael Stenkula, 2024. "Moonshots and the New Industrial Policy: Questioning the Mission Economy," International Studies in Entrepreneurship, in: Magnus Henrekson & Christian Sandström & Mikael Stenkula (ed.), Moonshots and the New Industrial Policy, pages 3-28, Springer.

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