Entrepreneurial accessibility, eudaimonic well-being, and inequality

Christopher J. Boudreaux, Niklas Elert, Magnus Henrekson, David S. Lucas

Research output: Contribution to journalArticlepeer-review

1 Scopus citations

Abstract

Amidst considerable debate on the relationship between entrepreneurship and economic inequality, scholarship only indirectly addresses how entrepreneurship informs individuals’ relative well-being. We theorize on the nuanced relationship between entrepreneurship and equality of eudaimonic well-being through the lens of New Institutional Economics. Drawing on theories of human flourishing, we suggest that entrepreneurial action is an underappreciated mechanism by which individuals pursue well-being. Equality of well-being is thus influenced by a society’s entrepreneurial accessibility: the freedom of individuals to choose to engage in entrepreneurial action. We present a multilevel framework in which institutional factors enable entrepreneurial action by promoting entrepreneurial accessibility—a factor, that, in turn, affects well-being for individual entrepreneurs as well as societal eudaimonic equality. The ex ante conditions for equality of well-being entail institutions that yield broad entrepreneurial accessibility. Our work highlights the institutional prerequisites for human flourishing in the entrepreneurial society beyond (unequal) economic distributions.

Original languageEnglish (US)
Pages (from-to)1061-1079
Number of pages19
JournalSmall Business Economics
Volume59
Issue number3
DOIs
StatePublished - Oct 2022

Keywords

  • Entrepreneurship
  • Eudaimonia
  • Inequality
  • Institutions
  • Well-being

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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