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ategorized entrepreneurial behavior consisting of ‘essentially new' a) Good; b) Method of production; c) Market; d) Source of supply and e) Organization of industry. Schumpeter also highlighted the motives behind an act of entrepreneurship. Entrepreneurs are not purely motivated by profit; in his view three main factors motivate the entrepreneur

The dream and will to found (strive for independence and power)

The will to conquer (or thirst for success)

The joy of creation ( to get things done)

Considering profit motive as a contributing factor and not the foremost primary motivational factor is well founded in research. Hirschman (1967) argues that many businessmen would never start a business if they come to know in advance how difficult it was going to be. Though without any profit motive, an act of entrepreneurship may not be considered entrepreneurial. Profit motive might be acting as a catalyst which induces the act of entrepreneurship. Whereas, afterwards the entrepreneurial process requires further motives and money is not enough as motivator.

After 1940's Schumpeter's works consist of sociological work, mainly Capitalism, Socialism and Democracy (1942), where he argues that routinization of change, demystification and rationalization of innovation has created an environment of less opposition towards entrepreneurs. This environment is not conducive for breading real entrepreneurship (Schumpeter). The presence of opposing force for ‘unleashing' entrepreneurship has been evident throughout history, though in different forms, ranging from dissatisfaction with current job to need for a basic ‘bread earning' activity. Schumpeter's views entrepreneurship as not limited to a single person and organization (social or business) or institution (even as a society) can be entrepreneurial; this argument comes from his belief that theory of entrepreneurship should be based upon the actual activity of entrepreneurship rather than researcher's personal injunctions.

Schumpeter's views on entrepreneurship does glorify entrepreneur to some extent. This element does not lend Schumpeter's entrepreneur to be explained through mathematical economics. Some may view this as detrimental even unacceptable in terms of economic contribution, however in essence Schumpeter's work lives on even today only because his views are ‘practical'. Schumpeter ‘spoke of realities' which he tried to explain through theories rather than theories trying to explain the reality.

2.1.2 The Contributions of Mainstream Economics

Economics is unable to place Entrepreneurship in its mainstream theory, though the presence of entrepreneurship has been largely accepted by economists. The lack of entrepreneur from economics has been termed as the performance of Hamletwith Danish Prince missing (Baumol 1968; 64), so much so that Blaug (1986; 229) calls it a ‘scandal' of keeping the students of economics unaware of entrepreneurship. Economics does have some thoughts on entrepreneurship mainly Schumpeter's thoughts, which are supplemented by theories of Israel Kirzner and mark Cason. Other also takes account of William Baumol and Austrian economics such as Friedrich Von Hayek本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。