entrepreneurship and innovation custom essay

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The following are the professor’s instructions:
Read the paper by Baumol (1990) that will be uploaded to my personal account. It is a modern classic.
Baumol�s underlying thesis is that the entrepreneurs are people who are
creative in the maximisation of their utility. He argues that the (utility
maximising) rewards accruing to different types of behaviour depend on the
�rules of the game� in a society. In turn, these rules reflect a society�s
underlying value system.
Put yourself in the position of a political leader in your home country (Syria) and answer the following questions:
� What are �the rules� as defined by popular culture?
� What do these rules say about the underlying
� What could be done to increase the allocation of entrepreneurial effort
towards more productive forms of economic activity for the 21st
Century?
I am looking for evidence that you have
understood both the meaning of Baumol�s paper and its implications for
economic policy in your domestic environment. I am expecting real insight and
arguments that demonstrate a nuanced appreciation of socio-economic
behaviour.

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