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A Model to Measure the Impacts of Productive, Unproductive and Destructive Entrepreneurship on Economic Growth and Development in Africa

In: Exploring Entrepreneurship

Author

Listed:
  • Muritala Awodun

    (Crown-Hill University (now Ojaja University), Eiyenkorin)

Abstract

There is a general consensus that Schumpeterian-Kirznerian entrepreneurs are individuals who either find or create value within the society (Schumpeter in Capitalism, socialism and democracy, 3rd ed., HarperCollins, 2008; Lucas and Fuller in Journal of Business Venturing Insights 7:45–49, 2015). This position led William Baumol to draw an important distinction between productive and unproductive entrepreneurs (Baumol in Journal of Political Economy 98:893–921, 1990; Thierer, http://www.learnliberty.org/blog/youre-in-joseph-schumpeters-economy-now , 2017). He described productive entrepreneurs as people engaged in enterprising activities that generate value within the society, such as the creation of new and innovative technologiesInnovative technologies (Baumol and Strom in Strategic Entrepreneurship Journal 1:233–237, 2007; Padilla and Cachanosky in Journal of Enterprise and Public Policy 5:161–175, 2016). He, however, also raised the fact that entrepreneurs could be unproductive if they did not create value, or are actively harmful if they engage in destruction of value (Elert and Henrekson in Small Business Economics 47:95–113, 2016). This chapter is an attempt to develop a model to measure the positive and negative impacts of entrepreneurship in our society with the productiveness of the former and the unproductiveness of the latter measured in relation to their contributions (in terms of value addition) to economic growthEconomic growth and development. As a part of the purpose of this chapter contribution, the various perspectives from which entrepreneurship has been viewed, and the magnitude of contributions of the positive perspectives as against the negative perspectives are presented, to provide basis for the construct of the model to measure the impacts of entrepreneurship on economic growth and development in our society.

Suggested Citation

  • Muritala Awodun, 2024. "A Model to Measure the Impacts of Productive, Unproductive and Destructive Entrepreneurship on Economic Growth and Development in Africa," Springer Books, in: Hakeem Adeniyi Ajonbadi & Susan Sisay & Seun Oladele (ed.), Exploring Entrepreneurship, chapter 0, pages 15-35, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-56343-0_2
    DOI: 10.1007/978-3-031-56343-0_2
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