The Invention of Enterprise

Winner of the 2011 Silver Medal Book Award in Entrepreneurship, Axiom Business "The Invention of Enterprise offers a timely contribution to our emerging understanding of entrepreneurship in an historical context and is particularly worthwhile for readers who are interested in certain rich historical episodes that are nevertheless little known."--Michael Bikard and Scott Stern, Journal of Economic Literature "I think these essays deserve close consideration, as much for the questions they raise as for the answers they give about innovation and entrepreneurship."--Mansel G. Blackford, EH.Net "Entrepreneurship has a long and varied history, and academics explore its evolution in The Invention of Enterprise. Edited by [Landes, Baumol, and Mokyr], the book collects essays from the editors and 18 other economists and historians. They look for commonalities in the societies that prospered--or failed to prosper--from entrepreneurial innovation, and they note that entrepreneurship is directly affected by the prevailing culture and religion."--Biz Ed "The Invention of Enterprise is a bold, exploratory attempt to answer our most important questions about how entrepreneurship has evolved and what makes it flourish. The volume brings together a stellar cast of economic historians. The important questions and the available evidence for the periods and places analyzed vary tremendously, so authors' approaches must too. Their scope is almost beautifully and absurdly vast, their insights are numerous, and their conclusions are restrained."--Robert Whaples, Books & Culture "A classic, impressive, study for serious students of the subject."--Long Range Planning "The Invention of Enterprise is an important contribution. It will certainly affect key debates in economics and economic history along with the national and regional histories of the areas discussed in the volume."--Jeff Horn, European Legacy

David S. Landes is the Coolidge Professor of History and professor emeritus of economics at Harvard University. Joel Mokyr is the Robert Strotz Professor of Arts and Sciences and professor of economics and history at Northwestern University. William J. Baumol is the Harold Price Professor of Entrepreneurship at New York University's Stern School of Business.

Foreword by Carl J. Schramm vii Preface: The Entrepreneur in History by William J. Baumol ix Acknowledgments by William J. Baumol and Robert J. Strom xv Introduction: Global Enterprise and Industrial Performance: An Overview by David S. Landes 1 Chapter 1: Entrepreneurs: From the Near Eastern Takeoff to the Roman Collapse by Michael Hudson 8 Chapter 2: Neo-Babylonian Entrepreneurs Cornelia Wunsch 40 Chapter 3: The Scale of Entrepreneurship in Middle Eastern History: Inhibitive Roles of Islamic Institutions by Timur Kuran 62 Chapter 4: Entrepreneurs and Entrepreneurship in Medieval Europe by James M. Murray 88 Chapter 5: Tawney's Century, 1540-1640: The Roots of Modern Capitalist Entrepreneurship by John Munro 107 Chapter 6: The Golden Age of the Dutch Republic Oscar Gelderblom 156 Chapter 7: Entrepreneurship and the Industrial Revolution in Britain by Joel Mokyr 183 Chapter 8: Entrepreneurship in Britain, 1830-1900 by Mark Casson and Andrew Godley 211 Chapter 9: History of Entrepreneurship: Britain, 1900-2000 by Andrew Godley and Mark Casson 243 Chapter 10: History of Entrepreneurship: Germany after 1815 by Ulrich Wengenroth 273 Chapter 11: Entrepreneurship in France by Michel Hau 305 Chapter 12: Entrepreneurship in the Antebellum United States by Louis P. Cain 331 Chapter 13: Entrepreneurship in the United States, 1865-1920 by Naomi R. Lamoreaux 367 Chapter 14: Entrepreneurship in the United States, 1920-2000 by Margaret B. W. Graham 401 Chapter 15: An Examination of the Supply of Financial Credit to Entrepreneurs in Colonial India by Susan Wolcott 443 Chapter 16: Chinese Entrepreneurship since Its Late Imperial Period by Wellington K. K. Chan 469 Chapter 17: Entrepreneurship in Pre-World War II Japan: The Role and Logic of the Zaibatsu by Seiichiro Yonekura and Hiroshi Shimizu 501 Chapter 18: "Useful Knowledge" of Entrepreneurship: Some Implications of the History by William J. Baumol and Robert J. Strom 527 List of Contributors 543 Index 545