The entrepreneur in economic theory: from an invisible man toward a new research field

Vera Rocha

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: Mainstream economics had great difficulty in fitting entrepreneurship into its theory and for long time the theoretical firm remained “entrepreneurless”. However, from the early 20th century onwards, we identify strong attempts of key economists to recognize the role of the entrepreneur as an explanatory force of several economic phenomena. 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 century, leading to the new and increasingly independent research field Economics of Entrepreneurship. The analysis goes through the main Economics fields where the (re)discover of the entrepreneur figure was most remarkable - namely Labor Economics, Microeconomics and Industrial Organization, and Economic Growth and Development - searching for the rationality to include the entrepreneur figure into the analyses of particular economic phenomena. The study is enriched by a brief bibliometric analysis, which helps to set forth a chronological trace of the entrepreneurship research within Economics literature.

Keywords: Entrepreneurship; Entrepreneur; Economic Thought; Labor Economics; Industrial Organization; Economic Development and Growth (search for similar items in EconPapers)
JEL-codes: B00 J01 L26 O10 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2012-05
New Economics Papers: this item is included in nep-ent, nep-his, nep-hme, nep-hpe and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:459

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