Entrepreneurship, knowledge and employment

The power of collective entrepreneurship: the approach of E. Ostrom

Yarukhin Ilya, Financial University under the Government of Russian Federation

During the XXth century the understanding of entrepreneurship changed significantly. The works of A. Marshall, L. Mises, J.M. Keynes, F.A. Hayek, R. Сoase made entrepreneur wider and more creative. It opened a way to broader understanding which human activity is significant. Among many of works devoted to this theme one of the most unusual is the research of E. Ostrom and her institute in 1970-1990-s. She explored the managing of common pool resources which can be regarded as collective entrepreneurship. This original approach opened the way for developing such kind of entrepreneurship in many spheres of economic activity, not only in managing lakes and wild forests (as it was in the beginning of her work). The active agents of such entrepreneurship include many subjects such as local citizens, firms, non-commercial organizations, government agencies. Their collective activity may as creative as activity of classical entrepreneurs and at the same time haven’t been covered enough in the previous history of economic thought. In some sence her work in the new branch of exploring of entrepreneurship, which may be vital for further development of classical economic markets and economic relations in more constructive and productive way.However her research didn’t developed enough well by future researches and thus still contain great perspectives for further exploring.

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Keywords: E. Ostrom, institutionalism, entrepreneurship

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