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Abstract

The prediction-control (PC) space offers a theoretical framework for the entrepreneurial method and shows how it can foster the development of a middle class of business, defined as ventures that grow and endure over time, but don’t necessarily grow very large in size. Analogous to the middle class in history fostered by the scientific method, the middle class of business is likely to provide spaces of non-churn and non-change requisite for the cocreation of robust communities and new ends worth achieving for human well-being. Such new ends are also likely to be crucial to tackling the problems of the 21st century and beyond.

Keywords

economics cognition/knowledge/learning economic development small business (SME)effectuation

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The Middle Class of Business: Endurance as a Dependent Variable in Entrepreneurship

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