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The Entrepreneur and Entrepreneurship: A Neoclassical Approach

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Author Info
Ying Lowery ()
Abstract

This paper attempts to introduce the entrepreneur as the “economic man” into a neoclassical framework and to indicate the role of government in fostering entrepreneurship. The entrepreneur is assumed to behave as if he maximizes utility including his value and desire to succeed, subject to an income constraint, of which his physical effort in subsistent production and entrepreneurial production generate this income. Entrepreneurship, specifically, is defined as an “economic system” that consists of three components: (1) entrepreneurs, who desire to achieve their goals of economic survival and advancement; (2) the social constitution, that the entrepreneur’s right of free enterprise is granted; and (3) the government, that has the ability to adjust the economic institutions that can work to protect each individual entrepreneur and to stimulate entrepreneurs’ motive to achieve toward fostering of economic development and growth.

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File URL: http://www.sba.gov/advo/stats/wkp03yl.pdf
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Publisher Info
Paper provided by U.S. Small Business Administration, Office of Advocacy in its series The Office of Advocacy Small Business Working Papers with number 03yl.

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Length: 26 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:sba:wpaper:03yl

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Koolman, G, 1971. "Say's Conception of the Role of the Entrepreneur," Economica, London School of Economics and Political Science, vol. 38(151), pages 269-86, August. [Downloadable!] (restricted)
  2. Christian Keuschnigg & Soren Bo Nielsen, 2000. "Tax Policy, Venture Capital, and Entrepreneurship," Econometric Society World Congress 2000 Contributed Papers 1848, Econometric Society. [Downloadable!]
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  3. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June. [Downloadable!] (restricted)
  4. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October. [Downloadable!] (restricted)
  5. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January. [Downloadable!] (restricted)
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  6. Baumol, William J., 1993. "Formal entrepreneurship theory in economics: Existence and bounds," Journal of Business Venturing, Elsevier, vol. 8(3), pages 197-210, May. [Downloadable!] (restricted)
  7. Holmes, Thomas J & Schmitz, James A, Jr, 1990. "A Theory of Entrepreneurship and Its Application to the Study of Business Transfers," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 265-94, April. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. James R. Barth & Glenn Yago & Betsy Zeidman, 2006. "Stumbling blocks to entrepreneurship in low-and-moderate income communities," Proceedings – Community Affairs Dept. Conferences, Federal Reserve Bank of Kansas City, issue Jul, pages 91-155. [Downloadable!]
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This page was last updated on 2009-11-26.

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