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Business & Society OnlineFirst Article (Baumol, On the Appropriate Social Responsibilities of Successful Entrepreneurs)

  • 1.  Business & Society OnlineFirst Article (Baumol, On the Appropriate Social Responsibilities of Successful Entrepreneurs)

    Posted 02-19-2014 16:46

     

     

     

    Published OnlineFirst before print February 17, 2014, doi: 10.1177/0007650314523087

    Article

    William J. Baumol, <st1:placename w:st="on">Berkley</st1:placename> <st1:placetype w:st="on">Center</st1:placetype> for Entrepreneurship and Innovation, Stern <st1:place w:st="on"><st1:city w:st="on">School of Business</st1:city>, <st1:state w:st="on">New York</st1:state></st1:place> University

     

     

    Abstract

    This article offers proposed guidelines intended to protect the public interest in relationship to the advocated social responsibilities of successful entrepreneurs. The author argues that the most effective approach, then, is not preaching about obligations but, rather, establishing financial incentives for doing well by doing good. One example is the <st1:place w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place> patent system. Another is a redesigned tax system that uses imposts to make socially damaging activities expensive, while reducing the financial burden on virtuous behavior.

     

    Duane Windsor, PhD

    BAS Editor

    Lynette S. Autrey Professor of Management

    <st1:place w:st="on"><st1:placename w:st="on">Jesse</st1:placename> <st1:placename w:st="on">H.</st1:placename> <st1:placename w:st="on">Jones</st1:placename> <st1:placename w:st="on">Graduate</st1:placename> <st1:placetype w:st="on">School</st1:placetype></st1:place> of Business

    <st1:place w:st="on"><st1:placename w:st="on">Rice</st1:placename> <st1:placetype w:st="on">University</st1:placetype></st1:place>

    odw@rice.edu