November, 2018

Kirznerian and Schumpeterian entrepreneurship in Trinidad and Tobago

  • Arielle John

    Senior Fellow, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics
  • Virgil Storr

    Board Member, Mercatus Center
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Read the article here.

This paper aims to highlight the possibility that the same cultural and/or institutional environment can differentially affect each of the two moments of entrepreneurship – opportunity identification and opportunity exploitation. It is possible that the cultural and institutional environment in a particular place may encourage opportunity identification, but discourage opportunity exploitation, or vice versa. Specifically, this paper argues that understanding entrepreneurship in Trinidad and Tobago requires that we focus on how Trinidadian culture and institutions differentially affect both moments of entrepreneurship.