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- W2264779834 abstract "Laymen and scholars alike often lament the failure of business firms and business historians focus most of their efforts on the small percentage of successful entrepreneurs. That is unfortunate because the failure of firms often and ironically leads to the success of economies. In a world haunted by the specter of bounded rationality, asymmetric information, nontrivial transaction costs, and uncertainty, entrepreneurs test the margins of economic reality. This paper shows how early nineteenth century America's failed agricultural manias, particularly the beet sugar craze of the late 1830s, helped the burgeoning American economy to learn where its comparative advantages lay, and where they did not. Early American beet sugar is also a story of abolition and slavery, technology diffusion and confusion, laissez faire ideology and government interference in the economy, and surprisingly advanced capital and money markets." @default.
- W2264779834 created "2016-06-24" @default.
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- W2264779834 date "2006-10-28" @default.
- W2264779834 modified "2023-09-26" @default.
- W2264779834 title "The Beet Sugar Entrepreneurs of Antebellum America: An Industry's Failure and an Economy's Success" @default.
- W2264779834 hasPublicationYear "2006" @default.
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