Instytucjonalne uwarunkowania prowadzenia biznesu

Abstract

The purpose of this study is to examine the Austrian School's understanding of entrepreneurship and the importance of good economic institutions for economic development. Activity at the microeconomic level is crucial from the point of view of development opportunities and the implementation of all plans and functions at the macro level. Such initiatives contribute to the development of new technologies, products and services that displace their predecessors. The study compares the impact of institutions on business conditions in selected countries of the European Union. The author concludes that if entrepreneurship is to grow rapidly and make a valuable contribution to the development at the macroeconomic level, favourable institutional environment is an essential condition, which is what the Austrian School of Economics regarded as fundamental.