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Free Enterprise at the Baugh Center

Steve Bradley and Peter Klein publish paper with Academy of Management: Institutions, Economic Freedom, and Entrepreneurship: The Contribution of Management Scholarship
[9/1/2016]
Entrepreneurship is regarded as key to economic growth, job creation, and greater prosperity. Indeed, entrepreneurship drives net job growth in the United States, the European Union, and some Asian countries. Yet the United States has experienced a decline in entrepreneurial dynamism since the 1970s, and some European countries continue to struggle to build a culture of entrepreneurship despite significant policy efforts. At the same time many developing countries are experiencing a net rise in entrepreneurial activity, leading many to wonder about a specific aspect of the institutional environment, what the economics and public policy literatures call economic freedom (EF): a summary measure capturing the freedom to engage in economic activity without undue restrictions or subsidies. The papers in this symposium focus on EF, each offering a specific perspective on how scholars can theorize and study the effects of institutions and institutional change on entrepreneurship, and the effects of entrepreneurship on institutions, at and across different levels of analysis.
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Boris Nikolaev publishes paper with Daniel L. Bennett: Factor endowments, the rule of law and structural inequality
[8/9/2016]
This paper provides an empirical test of the Engerman–Sokoloff hypothesis that factor endowments influenced the development of the rule of law, which in turn has perpetuated income inequality. Using a measure of the suitability of land for growing wheat relative to sugarcane as an instrument for the rule of law, as measured by area 2 of the Economic Freedom of the World index, we estimate the potential causal impact of the rule of law on the long-run net income inequality. Conditioning on geography, ethnolinguistic fractionalization and legal tradition, the rule of law exerts a negative impact on inequality that is both economically and statistically significant. The results are robust to additional control variables, two alternative measures of the rule of law, an alternative instrumental variable and the exclusion of strategic country samples and outliers.
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Boris Nikolaev publishes paper with Daniel L. Bennett: Give me liberty and give me control: Economic freedom, control perceptions and the paradox of choice
[8/9/2016]
We explore the relationship between individual control perceptions and the degree to which a country's institutions and policies are consistent with the principles of economic freedom. Using data from the World Values Surveys (WVS) and the Economic Freedom of the World (EFW) index, we find that people living in more economically free countries are more likely to perceive greater control over their lives. This effect is not diminishing at higher levels of economic freedom. One possible channel that explains this relationship is the perception of procedural fairness and social mobility. Decomposing the EFW index, we further find that the area of sound money is what drives the results.
(FULL STORY)

Boris Nikolaev publishes paper: Does other people's education make us less happy?
[8/9/2016]
A growing body of literature suggests that the extent to which people feel happy with their lives depends, at least partially, on how they compare to those around them. Much of this literature, however, has focused on the relative effect of income on happiness while other factors such as education, marriage, or leisure have received less attention. In this study, I extend this line of inquiry by investigating how individuals' level of education, as well as the average level of education of their reference group, influences their happiness. Using longitudinal data from the Household Income and Labour Dynamics in Australia (HILDA) survey, I find that, even after controlling for an individual's own education, higher reference group education is associated with lower levels of happiness. More educated people, however, are found to be less affected by social comparison. The panel nature of the HILDA dataset, and additional tests, indicate that the negative association between happiness and reference group education is not driven by people's (changing) interpretations of the happiness scale, self-selection, or the income of their reference group. Additional robustness tests show that the results are not sensitive to variations in the definition of a reference group.
(FULL STORY)

Boris Nikolaev publishes paper with Daniel L. Bennett: Economic Freedom & Happiness Inequality: Friends or Foes
[8/9/2016]
This article examines the relationship between economic freedom and happiness inequality for a large sample of countries. We find that economic freedom is negatively associated with happiness inequality and robust to several alternative measures of happiness inequality, including the standard deviation, mean absolute difference, coefficient of variation, and Gini coefficient. Among the economic freedom areas, legal system and sound money are negatively correlated with happiness inequality. Drawing on the Engerman-Sokoloff hypothesis, we use a measure of factor endowments as an instrument for economic freedom to provide a further robustness test, finding a negative association between economic freedom and happiness inequality. (JEL D63, I31, P16)
(FULL STORY)

Peter Klein speaks at Mises University Conference
[8/2/2016]
Dr. Klein speaks on the topic of entrepreneurship at the 30th anniversary of the Mises University Conference.
(FULL STORY)

Peter Klein to be Workshop Panelist at Strategic Management Society Berlin Conference
[8/2/2016]
Knowledge and Innovation, Cooperative Strategy, and Entrepreneurship Paper Development and Future Research Directions Workshop
(FULL STORY)

Baugh Center for Entrepreneurship & Free Enterprise Now Accepting Applications for the Fall 2016 McLane Scholars Program
[7/19/2016]
The Baugh Center for Entrepreneurship & Free Enterprise supports the intellectual development of undergraduate students interested in the intersections of entrepreneurship, economics, and public policy. The Baugh Center is pleased to invite applications to the McLane Teammates Scholar Program for the Fall 2016 semester.
(FULL STORY)

Peter Klein quoted in article via The Heartland Institute
[7/12/2016]
Peter Klein, Ph.D., professor of entrepreneurship in the Hankamer School of Business and senior fellow in Baylor’s Baugh Center for Entrepreneurship and Free Enterprise, is quoted in this article about New York lawmakers approving a bill that prohibits the advertising of short-term housing rentals in apartment and other spaces.
(FULL STORY)

Baylor Entrepreneurship in Uganda: Building Business from the Ground Up
[7/11/2016]
Dr. Steve Bradley leads team and travels to Kampala, Uganda with seed money to establish partnerships with Ben Kibumba and Come Let's Dance.
(FULL STORY)

Peter Klein publishes paper with Harvey S. James and Desmond Ng: Complexity, novelty, and ethical judgement by entrepreneurs
[7/11/2016]
How do individual characteristics and the business environment affect the ethical judgement of entrepreneurs?
(FULL STORY)

Dr. Boris Nikolaev Joins Baugh Center Research Team
[6/24/2016]
Dr. Nikolaev joined Baylor University as a research professor at the Baugh Center for Entrepreneurship and Free Enterprise from Emory University’s Oxford College.
(FULL STORY)

Baylor Grad to Intern at Ewing Marion Kauffman Foundation
[5/19/2016]
Kevin Renois (2016 BBA Social Entrepreneurship, Public Administration) accepted an internship opportunity at Ewing Marion Kauffman Foundation in Kansas City, Missouri.
(FULL STORY)

Peter Klein discusses "The Role of Entrepreneurship in the Economy" on Wake Up Call Podcast
[5/17/2016]
Dr. Peter Klein joins Adam Camac to discuss entrepreneurship, the role of entrepreneurship in the economy, and the economic significance of profits, firms, mergers, and acquisitions.
(FULL STORY)

Peter Klein pens paper: My Contributions to Entrepreneurship Theory
[5/9/2016]
Summarizing contributions to entrepreneurship theory, focusing on the links between contemporary entrepreneurship research, the "Austrian" understanding of markets and prices, and the economic theory of the firm.
(FULL STORY)

Matt Wood Awarded Tenure
[4/22/2016]
Baylor’s Hankamer School of Business bestows faculty awards on an annual basis. The winners were announced at the Senior Appreciation Banquet April 20.
(FULL STORY)

Peter Klein Receives Brent Clum Outstanding Research Award
[4/22/2016]
This is recognition is given to a tenured faculty member who displays excellence through published research.
(FULL STORY)

Steve Bradley Interviewed by WalletHub...Ask the Experts
[4/18/2016]
Steve Bradley offers insight into starting a business in a small city, "Cities can build off of their strengths - location, cost, amenities and currently successful companies to attract other businesses."
(FULL STORY)

Bradley, Wood and Bylund Publish Research Paper: The Influence of Tax and Regulatory Policies on Entrepreneurs' Opportunity Evaluation Decisions
[4/11/2016]
The purpose of this paper is to investigate effects of policy initiatives on entrepreneurs’ opportunity evaluation decisions.
(FULL STORY)

Peter Klein named Economics Field Editor for the Journal of Business Venturing
[4/1/2016]
Peter Klein, Professor of Entrepreneurship and Baugh Center Senior Research Fellow, was named Economics Field Editor for the Journal of Business Venturing, one of the top-ranked academic journals specializing in entrepreneurship and innovation. Klein also serves as an Associate Editor for the Academy of Management Perspectives.
(FULL STORY)

Peter Klein gives lectures at Universidad Francisco Marroquín in Guatemala
[3/15/2016]
Peter Klein, Professor of Entrepreneurship and Baugh Center Senior Research Fellow, gave a series of invited lectures at Universidad Francisco Marroquín in Guatemala in March 2016. Klein also serves as an adviser for UFM’s new PhD program in economics.
(FULL STORY)

Peter Klein gives plenary address at BYU-Utah Winter Strategy Conference
[3/4/2016]
Peter Klein, Professor of Entrepreneurship and Baugh Center Senior Research Fellow, gave one of the plenary addresses at the BYU-Utah Winter Strategy Conference.

Plenary Session: Stakeholder Theory & Strategic Management - "The Role of Ownership in Strategy Research."
(FULL STORY)

Virgil Storr Discusses the Role of Entrepreneurs as Leaders in the Aftermath of Natural Disasters
[2/12/2016]
Virgil Storr, Ph.D., senior research fellow at the Mercatus Center, will give a lecture on his most recent book, "Community Revival in the Wake of Disaster: Lessons in Local Entrepreneurship," from 5:15 to 6:30 p.m. on Tuesday, Feb. 23, in Room 240 of the Paul L. Foster Campus for Business and Innovation.
(FULL STORY)

Dr. Steve Bradley pens Op-Ed: Loosening Restrictions on Traditional Banks is Sure Start to Reforming Payday-Lending Practices
[2/2/2016]
Well-intentioned actions by government agencies, churches or nonprofits have often hurt the poor that they were trying to help.
(FULL STORY)

Ugandan Entrepreneur, Ben Kibumba Inspires Social Entrepreneurship Students
[11/23/2015]
Director of Come Let's Dance, Ben Kibumba shares message of inspiration and motivation with students.
(FULL STORY)

Entrepreneurship Ph.D. program starting in 2016
[5/15/2015]
The Baylor University Board of Regents voted to establish a new Ph.D. program in entrepreneurship in the Hankamer School of Business today. The program will start in 2016.
(FULL STORY)

Michael Hendrix, Research Director for Chamber of Commerce Foundation, addresses Baylor Student Leaders on Behalf of AEI
[11/20/2015]
Hendrix offers fascinating insight into the current business climate, including a discussion on which cities are best for small business owners to find opportunity.
(FULL STORY)

Dr. Wood Co-Authors Study: Not all Investors are Created Equal
[11/20/2015]
It may soon be easier than ever to raise thousands, even millions of dollars for a new startup idea. But when it comes to choosing investors, founders should beware that not all “angels” are created equal.
(FULL STORY)

Ben Kibumba, Founder of Uganda’s Come Let's Dance, to Speak on Entrepreneurial Opportunities in Africa
[11/18/2015]
Baylor University’s Free Enterprise program in the Hankamer School of Business will welcome Ben Kibumba, executive director of Come Let’s Dance – Uganda and pastor of Light The World Church in Nansana, Uganda, for lectures at 9:30 a.m. and 11 a.m. Thursday, Nov. 19, in the Paul L. Foster Campus for Business and Innovation, Room 214.
(FULL STORY)

Baugh Center for Entrepreneurship & Free Enterprise Receives $69,000 Continuing Grant for McLane Scholars Reading Program
[11/18/2015]
The Free Enterprise area within the John F. Baugh Center for Entrepreneurship and Free Enterprise is excited to announce the McLane Teammates Scholar Program recently received a $69k grant from Grady Rosier and the McLane Company.
(FULL STORY)

Baylor Knowledge & Social Capital: Dan McReynolds, Local Entrepreneur and Venture Capitalist, Shares How Baylor Degrees Shaped His Varied Career
[11/16/2015]
Baylor graduate, Dan McReynolds holds a BBA in economics and finance from Hankamer School of Business and a Juris Doctorate from Baylor Law School. By all accounts, he is considered quite successful in his endeavors since his days at Baylor.
(FULL STORY)

Baylor Undergraduate Poverty Research Garners Attention Beyond Waco
[11/10/2015]
Chicago native, Tara Funk graduated from Baylor in 2014 with majors in Baylor business fellows and management and minors in biochemistry and biology. While at Baylor, Funk worked on her business fellows thesis with the direction of Dr. Steven Bradley, faculty director and assistant professor in Free Enterprise at the Baugh Center.
(FULL STORY)

Dr. Bradley Studies the Success of the Microfinanced Entrepreneur
[10/19/2015]
Study suggests that business owners with spiritual capital may be perceived as being more trustworthy.
(FULL STORY)

Dr. Bylund featured in YFS Magazine
[7/17/2015]
In his article published today at YFS (Young, Fabulous, and Self-employed) Magazine, Dr. Bylund argues that a flat organizational structure is highly productive. Bylund provides 3 ways to "ditch" hierarchy and improve company performance.
(FULL STORY)

Dr. Bylund featured in OC Register
[7/17/2015]
Entering the discussion on automation/robots and the future of employment, Dr. Bylund argues that robots, machines, and the "loss" of jobs is a good thing. We want to work as little as possible for as much as possible. The way toward a more prosperous future goes through innovation and automation.
(FULL STORY)

Dr. Bylund featured on the Library of Law & Liberty web site
[6/22/2015]
Discussing the recent political push for raising the minimum wage, Dr. Per Bylund argues the minimum wage would destroy the labor market.
(FULL STORY)

Dr. Bylund featured on Startups.co
[6/18/2015]
What do Karl Marx and Monday mornings have in common? Considering how most people feel on Monday mornings, Marx and Mondays are more connected than you’d think. Says Dr. Per Bylund.
(FULL STORY)

Dr. Bylund featured on Samaritan Ministries
[6/5/2015]
Samaritan Ministries published an essay by Dr. Bylund on Obamacare: What Sweden Can Teach Us About the Affordable Care Act.
(FULL STORY)

The Baugh Center in Europe
[5/11/2015]
Over a four-week period in April and May the Baugh Center participated in three international conferences and four private university seminars in four countries in Europe.
(FULL STORY)

Baylor Free Enterprise Hosts First Regulation Round Table
[11/17/2014]
The first installment of an expected series of Regulation Roundtable Luncheons was hosted by the Baugh Center on Thursday. Well over 30 local business men and women attended the luncheon and engaged in a lively discussion aimed at building a bridge between business practice and academic research.
(FULL STORY)

Baylor's McLane Scholars attend "Weekend Exploring Liberty" conference
[4/1/2015]
Last March, 12 students from Baylor (including myself) and a professor spent our first weekend of spring break in a non-traditional (but very rewarding) place - in a classroom [for a “Weekend Exploring Liberty” conference].
(FULL STORY)

Arthur Brooks, president of AEI, speaks on Capitalism Without Attachment: Creating a Prosperous Society Without Losing Our Souls
[5/7/2015]
Arthur Brooks, president of AEI, speaks on "Capitalism Without Attachment: Creating a Prosperous Society Without Losing Our Souls" to over 500 students and faculty
(FULL STORY)

Dr. Bylund featured in Techli
[4/12/2015]

(FULL STORY)

Baylor Free Enterprise Announces a $10,000 Award for NACRA Case Competition Winner
[4/1/2015]

(FULL STORY)

Dr. Bylund featured in Middle Market Executive
[3/31/2015]

(FULL STORY)

New book edited by Dr. Bylund
[3/13/2015]
March 13 saw the release of a new book edited by Dr. Bylund together with Dr. David Howden at St. Louis University, Madrid. The book, with the title The Next Generation of Austrian Economics: Essays in Honor of Joseph T. Salerno, is a collection of essays on economic theory in the Austrian tradition by junior scholars from universities around the world. The book was released at the Austrian Economics Research Conference in Auburn, Alabama.
(FULL STORY)

Dr. Bylund awarded Lawrence A. Fertig Prize
[3/13/2015]
The Lawrence A. Fertig Prize, "for the scholarly article published during 2014 that best advances economic science in the Austrian tradition," was awarded Dr. Per Bylund at the Austrian Economics Research Conference held at the Mises Institute in Auburn, Alabama, 3/12-14.
(FULL STORY)

Student Fellow Danny Huizinga Refutes Claims of Mimimum Wage Hike Proponents
[3/6/2015]
Student Fellow Danny Huizinga Refutes Claims of Minimum Wage Hike Proponents
(FULL STORY)

Dr. Bylund interviewed by IdeaMensch
[2/2/2015]
In his interview, Dr. Bylund stresses the connection between theory and practice, researchers and practitioners, and how we aim for our research to be relevant and valuable to entrepreneurs and business leaders.
(FULL STORY)

The Past and Future of Obamacare
[12/1/2014]
This article was written by Danny Huizinga, a senior and AEI Executive Council member at Baylor University.

On Tuesday, Thomas Miller, a health policy expert from the American Enterprise Institute in Washington, DC, spoke at Baylor University about the past and future of Obamacare.
(FULL STORY)

Leadership Dinner at Baylor University
[11/20/2014]
On Tuesday evening, November 11th, the John F. Baugh Center for Entrepreneurship and Free Enterprise (based in the Hankamer School of Business at Baylor University) had the honor of hosting a student leadership dinner with a speaker from the American Enterprise Institute (AEI) in Washington, DC.
(FULL STORY)

Baugh Center Hosts Visit with Swedish Ohlin Institute
[11/3/2014]
Several Baylor business faculty met with Gabriel Ehrling and Anders Ronmark of the Ohlin Institute on October 29th to discuss similarities and differences between Swedish and U.S. political involvement.
(FULL STORY)

Why We Buy What We Don’t Need: Well-Known Cultural Critic Virginia Postrel Visits Baylor
[10/10/2014]
Virginia Postrel, author of several books and former editor of Reason magazine, visited Baylor University and the Baugh Center on Tuesday. Known for her cultural critique and optimistic view on technology and development, Postrel demonstrated how the market economy includes an intimate connection between economic or functional value and design, culture, and feeling.
(FULL STORY)

From Mail To Money – How Able Helps Small Businesses
[9/24/2014]

(FULL STORY)

Dr. McCormick featured in Forbes Magazine on what Freshmen know
[9/19/2014]
Today's freshmen know little about how life was lived before the 21st century. This article offers six areas where current freshmen knowledge offers both opportunities – and dangers – for the US economy.
(FULL STORY)

Collaborative Credit: Start-up Able Using the Wisdom of the Crowd to Fund Business Growth
[9/18/2014]
Will Davis and Evan Baehr, Austin tech entrepreneurs and co-founders of collaborative lending startup Able, visited Baylor University and the Baugh Center on Monday to share with students and faculty. Their collaborative lending business joins a wave of peer to peer businesses using technology to connect individuals needing to share or trade resources – often at a significantly lower cost than current market competitors.
(FULL STORY)

Dr. Bylund invited to serve on the Strategic Entrepreneurship Journal’s editorial board
[9/4/2014]
Dr. Bylund has been invited to serve on the Strategic Entrepreneurship Journal’s editorial board. He will serve a 3-year term beginning 9/1 2014.
(FULL STORY)

Dr. McCormick featured in Forbes Magazine on the importance of opportunity cost
[8/18/2014]
Franklin never said, “A penny saved is a penny earned.” Saving a penny in Franklin’s mind meant rescuing the penny from wasted alternatives –like “being saved” from a life of drunkenness.
(FULL STORY)

Danny Huizinga Appointed First Student Fellow
[7/31/2014]
Danny Huizinga, a senior Economics and Finance major, has been selected as our first student fellow for 2014-2015.
(FULL STORY)

Dr. Benjamin Powell of Texas Tech University Presents His Book “Out of Poverty: Sweatshops in the Global Economy”
[4/29/2014]
Dr. Benjamin Powell of Texas Tech University presents evidence of sweatshops benefits for the poor
(FULL STORY)

Dr. Per Bylund Member Named Top Economics Author
[4/23/2014]
Per Bylund, research professor at the John F. Baugh Center for Entrepreneurship & Free Enterprise, was recently awarded a position in the top 22 percent of economics authors by the Social Science Research Network (SSRN).
(FULL STORY)

Dr. Per Bylund in Wall Street Journal on Swedish Healthcare and Obamacare
[4/22/2014]
President Obama has declared the Affordable Care Act a success—a reform that is "here to stay." The question remains, however: What should we expect to come out of it, and do we want the effects to stay? If the experiences of Sweden and other countries with universal health care are any indication, patients will soon start to see very long wait times and difficulty getting access to care...

Sweden is praised as a rare example of a socialist country that works. A closer look at its health-care system tells a different story. It is possible to have truly affordable, qualitative and accessible care. But the only way to get this result is through a system where providers freely compete with each other to lower costs and raise quality. There is no short cut to well-functioning, affordable health care. Sweden's undesirable experience shows this very clearly.

Mr. Bylund is a professor at the Hankamer School of Business at Baylor University. A citizen of Sweden, he served on the Österåkers Kommun municipal council in Stockholm County from 1998-2000.
(FULL STORY)

Dr. McCormick Featured in RealClearMarkets.com on Failed Crony Subsidies
[4/16/2014]

(FULL STORY)

Dr. Lucas Rentschler of Guatemala’s Universidad Francisco Marroquin (UFM) on “Liberty in Central America: Education, Policy and Politics”.
[4/14/2014]
Dr. Lucas Rentschler presented on his teaching and research in free enterprise in Latin America explaining the unique role that Guatemala’s Universidad Francisco Marroquin (UFM) plays in economic development and policy for the country.
(FULL STORY)

Nobel Laureate Vernon Smith Visits Baylor
[3/7/2014]
In an exclusive meeting with Baugh Center researchers, the 2002 Nobel Laureate Vernon Smith shared how experimental research techniques lead to groundbreaking ideas.
(FULL STORY)

Dr. Jim Riordan On Market-based Solutions to Job Creation
[2/28/2014]
Development Economist Dr. Jim Riordan discussed with Baylor Entrepreneurship students how to create jobs in developing countries
(FULL STORY)

Noted Lecturer and Author, Os Guinness, Visits Baylor
[2/13/2014]
Dr. Os Guinness discussed ideas from his recent book, "A Free People's Suicide: Sustainable Freedom and the American Future."
(FULL STORY)


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