A nice introduction to the study of functional entrepreneurship and the context in which it exists and is exercised. But emphasis should be on the word “introduction” – this is not a heavy analysis in scholarly style, but rather a quick overview of the topics studied re: both entrepreneurship and institutions. I’m not sure exactly how this essay, which is no doubt beautifully written and easy to grasp, should be evaluated or valued: exactly what is the audience?
Boettke and Coyne are scholars in the field, but while they do cite a number of scholarly studies their own work is but a lay man’s introduction to the field, its foci and the questions currently discussed. Other scholars in this field or with an interest in entrepreneurship, new institutional economics, institutions, or the theory of the market would not have much to gain from reading this essay.