Book Review: The Economics of Self-employment and Entrepreneurship

This is an outstanding book, which I wish I had been clever enough to write myself. It takes the economist’s perspective on self-employment and entrepreneurship and places an evidence-based bomb under much that the writers of current textbooks on this subject ply to their student readers. The problem, however, is that this book is not ‘bedtime reading’ because there are many sections that will terrify those students and teachers without the necessary mathematical equipment to benefit from the insights provided. Unfortunately too many Business School staff responsible for teaching Entrepreneurship may react to such a text by ignoring it, justifying this on the grounds that it is arid, or irrelevant or naive or some other word that they feel exonerates them from having to get to grips with economic insights. While individual teachers – and public policy makers as well – may feel able to shut out the ideas of economists on these grounds, this means the typical entrepreneurship and small business student is short-changed. So, what insights are they missing by not reading this book? The following constitutes four examples: