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has been cited by the following article:

• TITLE: A Theory of Political Entrepreneurship

  AUTHORS: Matthew McCaffrey, Joseph T. Salerno

  KEYWORDS: Entrepreneurship, Political Entrepreneurship, Ownership, Production, Uncertainty, Income Distribution, Profit and Loss

  JOURNAL NAME: Modern Economy, Vol.2 No.4, September 21, 2011

  ABSTRACT: This paper adapts the entrepreneurial theory developed by Richard Cantillon, Frank Knight, and Ludwig von Mises to the theory of “political entrepreneurship.” Political entrepreneurship is an outgrowth of the theory of the market entrepreneur, and derives from extending entrepreneurial theory from the market into the political sphere of action. By applying the theory of the entrepreneur to political behavior, we provide a basis for identifying political entrepreneurs, and for separating them analytically from other government agents. The essence of political entrepreneurship is the redirection of production from the path it would have taken in an unregulated market. Nevertheless, this production does produce an income stream to political entrepreneurs which closely resembles the profit of market entrepreneurs.