Defining entrepreneurship

The term 'entrepreneurship' first appeared in the French Dictionary 'Dictionnaire Universal de Commerce' in 1723. Richard Cantillon is considered to be the first economist to define who an entrepreneur is. In his seminal book 'Essai sur la Nature du Commerce en Général', considered the first complete treatise on economics, he defines entrepreneur as non-fixed income earner who pays known costs of production but earns uncertain incomes, due to the speculative nature of pandering to an unknown demand for his/her production (Wikipedia). Since then, perhaps no other term has been redefined, reinterpreted and conveniently adapted with such plasticity across theory and practice.

Social entrepreneurship: A distinctive domain?

Though 'social entrepreneurship' as a phenomenon that integrates economic and social value creation has had a long presence, it does not seem to have attracted wide scholarly attention. A review of the social science literature found despite spanning a period of nearly 20 years, just 152 journal articles on social entrepreneurship and 10 key areas of future research (Short, Moss and Lumpkin, 2009).

Institutions and Entrepreneurship

Douglass C North's essay on "Institutions", published in the Journal of Economic Perspectives (Vol 5, Winter 1991), was a compulsory reading during my MBA days. But as many B-school students, I too graduated barely managing to flip through the many seminal essays such as this.