Philosophical Reflexivity and Entrepreneurship Research

3New partial theory in entrepreneurship

Explanation, examination, exploitation, and exemplification

Richard J. Arend

Capitalism is a virtuous cycle fueled by the reinvestment of profits into entrepreneurial activity – an activity that promises to increase current profits (e.g., by decreasing costs, by increasing volume, or by increasing priced value) – where a part of that increase in profits is reinvested. The attraction of such profit growth is evident in capitalist economies; for example, where in the US about half-a-million for-profit new ventures start up each month (Fairlie, 2014). That activity also holds attraction to academia; with significant increases in entrepreneurship-related theorizing, data analysis, and publications in the past ...