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Joseph Schumpeter
- The American economist Joseph Schumpeter ’s 20th-century contributions shed light on the distinction between an entrepreneur and a capitalist. He introduced the term Unternehmergeist, or “entrepreneur-spirit,” to designate a driving force of innovation, one that revolutionizes economic structures and thereby fosters constant economic change.
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Jan 1, 2016 · Despite this paper addresses the first attempts of economics to comprehend and explain the role of the entrepreneur, it will focus primarily on the theoretical approaches on entrepreneurship and economic innovation developed by Joseph Schumpeter in the beginning of the 20th century.
- Luís Beato Nunes
- 2016
- 2.1 Introduction. The historical evolution of ideas about the entrepreneur is a wide-ranging subject and one that can be organized in different ways—theorist by theorist, period by period, issue by issue and so forth.
- 2.2 The entrepreneur in economic history. Entrepreneurship is not a concept that has a tightly agreed definition. In modern common usage an ‘entrepreneur’ is ‘a person who undertakes an enterprise, especially a commercial one, often at personal financial risk’.1 It is the product of a ‘modern’ post-enlightenment world in which continual change has become the norm, where ‘progress’ (technical, social and economic) has become expected and where notions of liberal individualism predominate.
- 2.3 The entrepreneur in classical political economy. Classical economics did not incorporate a systematic treatment of entrepreneurship. The system of economic thought that prevailed during the ‘hey day’ of the ‘men of business’ paid no particular attention to them except as a form of skilled labour or as providers of capital.
- 2.4 The entrepreneur in neoclassical theory. It is sometimes argued that the development of neoclassical analysis beginning with Menger and Jevons in the 1870s, heralded a change of emphasis from the ‘magnificent dynamics’ of classical theory to ‘precise statics’.14 Robbins (1935: 16) later described this central concern as ‘the relationship between ends and scarce means which have alternative uses’.
Jan 1, 2012 · This paper analyzes the evolution of economic thought on entrepreneurship, and in particular the path through which the entrepreneur (re)entered into economic theory over the 20th...
- Vera Rocha
The role of entrepreneurship was ignored in economic literature until the 20th century and in economic growth and development models until the early the 1990s. Since then, the role of entrepreneur is included in different branches of economics.
- Eman Selim
The concept of entrepreneurship played a formative role in the emergence of business history as a distinct academic field. Since the middle of the nineteenth century, economic historians had critiqued the static theories of classical and neoclassical economic
Three historical economists founded the theory of entrepreneurship: Richard Cantillon (approx 1680–1734) in the eighteenth century, Jean-Baptiste Say (1767–1832) in the nineteenth century, and Joseph A. Schumpeter (1883–1950) in the twentieth century.
