Opportunism and diversification : entrepreneurship and livelihood strategies in uncertain times

Abstract

As economic crisis deepens across Europe people are forced to find innovative strategies to accommodate circumstances of chronic uncertainty. Even with a second multi-billion euro bailout package secured for Greece, the prospects of a sustainable recovery in the near future look bleak. However, crisis has also created dynamic spaces for entrepreneurial opportunism and diversification resulting in social mobility, relocation, shifts in livelihood strategy and a burgeoning informal economy. Although economic systems are currently undergoing radical reassessment, social demands such as competitive consumption remain. Opportunities for investment in renewable energy programmes, especially photovoltaics, are also pervasive. By considering cases of business opportunism and livelihood diversification in relation to Max Weber's concept of wertrational and notions of uncertainty, this article brings new perspectives to strategies of negotiating the worst economic crisis in living memory.