The Role of the Entrepreneur

Harold Lydall

Chapter 6 in The Entrepreneurial Factor in Economic Growth, 1992, pp 58-79 from Palgrave Macmillan

Abstract: Abstract Given their reliance on the model of perfect competition, it is not surprising that few economists have devoted much attention to the role of the entrepreneur. Many textbooks of microeconomics, or price theory, do not even mention entrepreneurship. General textbooks of economics, which are more eclectic, usually say something about the entrepreneur; but only to provide summaries of alternative views about his role. Entrepreneurship is a subject that is never integrated into the body of neoclassical theory, since it is, of course, logically impossible to do so. But a few well-known economists have addressed themselves to the subject; and we shall consider their views below. First, however, it is necessary to focus on the nature of the problem that needs to be explained.

Keywords: Capital Stock; Technical Progress; Socialist Country; Imperfect Knowledge; Perfect Competition (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1057/9780230374461_6

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