The Entrepreneur in Economics

Current scotch research denies the innate characteristics of the entrepreneur. Rather than attributing economic growth and innovation to personality traits, economists would rather advocate a form of economic determinism: if an aggressive personality dominated an indus canvass, economists try to explain the characteristics of the industry that made aggression a undefeated strategy. Economic models are contrived to remove the personality from the entrepreneur, to hasten all entrepreneurial decisions predestined, given enough time. However, to deny point Gatess or Steve Jobss role in economic recital is equivalent to denying Hitlers role in creating a Nazi Germany or Castros role in creating a Communist Cuba. Claiming that history or economics is deterministic is silly. Entrepreneurs are people who make decisions; their decisions gather up non fall out of dry economic models, rightful(prenominal) as no literary model could predict the spoken communication of Shakespeare and no historical model could predict the future. However, we must be systematic in our approach to identifying entrepreneurial characteristics and not fatuously assert that entrepreneurs drive economic change.

Instead, we must link specialized entrepreneurial tasks to specific entrepreneurial traits with the goal of understanding how these traits crucially affect the evolution of a business from a startup to Fortune 500 company. This paper will explore latest economic views of the entrepreneur and assert that there are reciprocal entrepreneurial traits that affect both the decision to become an entrepreneur and the level of entrepreneurial success. We must first debunk the idea, advocated by Knight and Mises, of the entrepreneur as risk-bearer (Peter Swoboda, 1984). Aside from making every stock market participant an entrepreneur, this definition simply does not describe actual entrepreneurs and must be discredited. In Amar Bhides 1989 cogitation of Inc. 500 companies, where an Inc. 500 company grows its sales on second-rate by 170 percent per... If you want to get a full essay, order it on our website: Orderessay

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