Genesis of the Entrepreneurial Idea in the Economic Theory: Review and Interpretation

Yordan P. Koev

Economic Studies journal, 2004, issue 2, 79-108

Abstract: The paper, using the historical approach, reveals the sources and the basis of formation of the present-day knowledge on the essence of entrepreneurship prior to the middle of the 20 century. The views of representatives of the main economic schools are being analyzed. The specific national features and conditions having given birth to the idea of entrepreneurship are being stressed. Four major directions in the history and development of the theory of entrepreneurship are being outlined and examined: the limited entrepreneurial knowledge; the innovation approach of J. Schumpeter; the cultural-organizational direction of M. Weber and the Austrian approach of “entrepreneurial discovery”. The basic idea, defended in the paper, is that the development of the theory of entrepreneurship is dependent on two fundamental factors: economic freedom and knowledge.

JEL-codes: B10 B20 M13 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2004:i:2:p:79-108

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