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

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  • Yordan P. Koev

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.

Suggested Citation

  • Yordan P. Koev, 2004. "Genesis of the Entrepreneurial Idea in the Economic Theory: Review and Interpretation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 79-108.
    • Handle: RePEc:bas:econst:y:2004:i:2:p:79-108
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    References listed on IDEAS

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    1. Mitko Dimitrov & Kiril Todorov & David Smallbone & F. Welter & G. Zaman & J. Golygowski & Kostadin Kolarov & Plamen Tchipev & Radostina Bakardgieva & Xavier Richet & et al., 1996. "Industrial Organisation and Entrepreneurship in Transition (proceedings of the International Conference, Albena - Varna, Bulgaria, 5-8 June 1995)," ERI-BAS Books, Bulgarian Academy of Sciences - Economic Research Institute, number 7:p:1-283 edited by Mitko Dimitrov & Kiril Todorov.
    2. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
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    More about this item

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

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