2019 | OriginalPaper | Chapter
12. Remittances and FDI As Privately Provided International Aid
Authors: Olga Nicoara, Scott A. Burns
Publisher: Springer International Publishing
2019 | OriginalPaper | Chapter
Authors: Olga Nicoara, Scott A. Burns
Publisher: Springer International Publishing
In any real and living economy, every actor is always an entrepreneur and speculator … Economics, in speaking of entrepreneurs, has in view not men, but a definite function. This function is not [a] feature of a particular special group or class of men; it is inherent in every action and burdens every actor.
In general, institutions shape entrepreneurial opportunities which have real effects on the ability of the economic system to realize the gains from social cooperation under the division of labor. Where institutions produce a net benefit to productive opportunities (e.g., arbitrage and innovation) entrepreneurs will exploit those opportunities resulting in the creation of wealth. Likewise, when there is a relatively high benefit to engaging in unproductive activities (e.g., rent-seeking and crime), entrepreneurs will take advantage of those opportunities.
Print ISBN: 978-3-030-22120-1
Electronic ISBN: 978-3-030-22121-8
Copyright Year: 2019
https://doi.org/10.1007/978-3-030-22121-8
Version: 0.1251.0