This thoroughly revised and updated new edition of Mark Casson's modern classic The Entrepreneur presents a novel synthesis of the ideas of Joseph Schumpeter, Frank Knight and Friedrich Hayek, according to which the defining characteristic of the entrepreneur is the exercise of judgement in business decisions.
This pathbreaking volume argues that good judgement is based on a unique combination of information, and that this information is typically exploited by founding a `market-making' firm, which links customers and suppliers who could not otherwise make contact with each other. This assessment of entrepreneurship, Mark Casson contends, has important implications for the growth of firms, social mobility and `enterprise culture'.
This second edition is essential reading for scholars of economics, management, business history and economic history. Academics from a wide range of economic schools of thought, both orthodox and heterodox, will find the book to be an original and outstanding work.
Mark Casson, Professor of Economics and Director, Centre for Institutions and Economic History, University of Reading, UK
Contents: Preface to the Second Edition Introduction Part I: Theoretical Foundations 1. The Significance of the Entrepreneur 2. Basic Concepts of the Theory 3. The Entrepreneur as Intermediator 4. The Competitive Threat to the Entrepreneur 5. Partial Coordination: The Case of Innovation Part II: The Market-making Firm 6. Making a Market 7. Internal and External Markets 8. The Market for Information 9. Speculative Intermediation and the Role of Inventory Management 10. Organizing the Supply of Market-making Services Part III: Synthesis 11. Growth and Dynamics of the Firm 12. The Market for Entrepreneurs 13. Social Mobility and the Entrepreneur 14. Alternative Theories of the Entrepreneur 15. Conclusions Bibliography Index