Social Entrepreneurship as a Mechanism to Correct Institutional Shortcomings

Abstract

We conceptually investigate opportunities for social entrepreneurs and non-profit organizations (NPOs) through an Austrian economics lens. To do so we provide an overview of (1) Austrian economics and its role in entrepreneurship, (2) certain institutional shortcomings, and (3) institutional signals and opportunities for social entrepreneurs as leaders of non-governmental organizations (NGOs). We posit that NGOs have the ability to address institutional shortcomings and address societal needs. As such, recognizing these opportunities allows inspired social entrepreneurs and their NGOs to fill certain societal needs.