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The Misunderstood Topsoil of our Economy: Entrepreneurs. Kavita Singh Economics Capstone Dr. Northrop Spring 2012. What is an Entrepreneur?. risk-bearer under uncertainty supplier of financial capital innovator industrial leader superintendent
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The Misunderstood Topsoil of our Economy: Entrepreneurs Kavita Singh Economics Capstone Dr. Northrop Spring 2012
What is an Entrepreneur? risk-bearer under uncertainty supplier of financial capital innovator industrial leader superintendent organizer of economic resources enterprise-owner contractor employer of different combinations of factors of production manager decision-maker arbitrageur allocator of resources
Frank H. Knight (1885-1972) Risk and Uncertainty
Joseph A. Schumpeter (1883-1950) Entrepreneurs as central drivers of economic development
Ludwig von Mises (1881-1973) Everyone is an entrepreneur; inherent in human action
G.L.S. Shackle (1903-1992) Importance of time in the entrepreneurial decision-making process
Israel M. Kirzner (1930-present) “Alertness” of the entrepreneur
In Defense of the Mainstream “Why Economics Has Soul”