Towards an Untrepreneurial Economy: The Entrepreneurship Industry and the Veblenian Entrepreneur

Rasmus Koss Hartmann, André Spicer, Anders Dahl Krabbe

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Abstract

What is driving the declining quality of innovation-driven entrepreneur-ship? In this paper, we argue the growing entrepreneurship industry is an important yet overlooked explanation. This rapidly growing industry has transformed the nature of entrepreneurship and encouraged a particular form of low-quality entrepreneurship. It has done so by leveraging the Ide-ology of Entrepreneurialism to mass-produce and mass-market products that make possible what we term Veblenian Entrepreneurship. This is en-trepreneurship pursued primarily as a form of conspicuous consumption. Aside from lowering average entrepreneurial quality, Veblenian Entrepre-neurship has a range of (short-run) positive and (medium and long-run) negative effects for both individuals and society at large. We argue that the rise of the Veblenian Entrepreneur has contributed to creating an increas-ingly Untrepreneurial Economy. That is an economy which superficially appears innovation-driven and dynamic, but is actually rife with ineffi-ciencies and unable to generate economically meaningful growth through innovation.
Original languageEnglish
Title of host publicationProceedings of the Eightieth Annual Meeting of the Academy of Management
EditorsGuclu Atinc
Number of pages6
Place of PublicationBriarcliff Manor, NY
PublisherAcademy of Management
Publication date2020
Article number152
DOIs
Publication statusPublished - 2020
EventThe Academy of Management Annual Meeting 2020: Broadening Our Sight - Virtual
Duration: 7 Aug 202011 Aug 2020
Conference number: 80
https://aom.org/events/annual-meeting/past-annual-meetings/2020-broadening-our-sight

Conference

ConferenceThe Academy of Management Annual Meeting 2020
Number80
LocationVirtual
Period07/08/202011/08/2020
Internet address
SeriesAcademy of Management Proceedings
ISSN2151-6561

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