Keystones of Entrepreneurship Knowledge

By Bronson, James W. | New England Journal of Entrepreneurship, Spring 2007 | Go to article overview

Keystones of Entrepreneurship Knowledge


Bronson, James W., New England Journal of Entrepreneurship


Keystones of Entrepreneurship Knowledge James W. Bronson Rob van der Horst, Sandra King-Kauanui, and Susan Duffy, ed., Keystones of Entrepreneur s bip Knowledge, Maiden, MA: Blackwell Publishing, 2005.463 pages.

Keystones of Entrepreneurship Knowledge, edited by Rob van der Horst, Sandra King-Kauanui, and Susan Duffy, has been published in celebration of the 50th anniversary of the International Council for Small Business (ICSB). The editors offer -what they believe to be "the best 20 articles ever published about entrepreneurship and small business" (viii).The strength of the volume lies in the commentaries of the associate editors. Each of the book's chapters starts -with an introduction by two associate editors. The associate editors provide a rationale for the selection of that chapter's articles and the continuing relevance of those articles to research on entrepreneurship and small business. The best of the introductions offer a frame-work that links the chapter's articles.

Organization of the Book

Following a brief statement on the state of the ICSB and an introduction, the book is organized into four chapters, each of-which represents one of the ICSB's research foci:

* research,

* public policy,

* education, and

* service provision.

The chapters are comprised of an introduction folio-wed by five previously published papers.The volume concludes -with a history of the ICSB.

Best Papers in the Field of Research

In the introduction to this chapter, J. Hanns Pichler and Roy Thurik discuss the differentiation bet-ween entrepreneurship and small business.They also present a brief treatment of entrepreneurship in theory and practice over the past century. The five selected articles cover the role of risk in entrepreneurship, the typology and classification of ventures, the relationship bet-ween entrepreneurial orientation and performance, and the effect of entrepreneurship and small business on the economy and society. The papers do an admirable job of tracing the evolution of entrepreneurship theory up to 1996. If there is any criticism of this chapter, it is that the paper by Kihlstrom and Laffont, "A General Equilibrium Entrepreneurship Theory of Firm Formation Based on Risk Aversion" (1979), is difficult to grasp -without a modest background in econometrics.

Best Papers in the Field of Public Policy

Introduced by David Story and Lois Stevenson, this chapter provides an overview of the rationale for public policy pertaining to entrepreneurship and its potential effects on small, medium-sized, and entrepreneurial enterprises. The selected articles cover

* a critique of public policy intervention and the need to evaluate thoroughly the impact of intervention,

* the role of public policy in fostering entrepreneurial actions in the face of market failure,

* recommendations for best practices in public policies promoting entrepreneurship, and

* future directions for public policy research -with a special emphasis on the United States.

The introduction and selected articles make a strong case for the need for a systematic program of research on the effects of public policy on small, medium-sized, and entrepreneurial enterprises.

Best Papers in the Field of Education

This chapter, introduced by Kevin Hindle and George Solomon, may be described as the history of entrepreneurship education in U. …

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