An Outline of the Concept of Entrepreneur: Review
The market economy – perceived by the classical economists under its positive aspects, and by the socialist economists under its negative aspects – demanded to be reexamined from a critical point of view following which remedies were about to be brought to it. Starting with his few ideas sensed in “The Economic Consequences of Peace”, which were developed and completed by the author with others in “Treatise over Money, J. M. Keynes reaches a theoretical system that he states in his work “General Theory in Using the Workforce, Interest and Money”. In this work, the author is detached from classicism and neoclassicism and a new paradigm is born in the economic science. Emotional Intelligence
Joseph Schumpeter, although of German origins, was born in 1883 at Triesch, a Czech city of approximately 5000 inhabitants, which subsequently became part of the Austro -Hungarian Empire. Under the influence of his stepfather, a retired lieutenant colonel in infantry, he studied at Theresianum school of Vienna, where the children of Austro -Hungarian aristocracy used to study according to tradition. In 1901, he was enrolled at Vienna University, where he studied the social history and law history. Later on, his tendency was related to economic theory and he graduated as Doctor in 1906. His first relevant work, “The Theory of Economic Development”, was published in 1911.
Although Schumpeter was not a Marxist, he studied Marx and liberals and in 1918, he became a member of the German Socialization Commission. This led to his appointment as Finance Minister in 1919. Nevertheless, in less than a year after his appointment, he was dismissed from his position due to his failure to unite the broken political forces. He returned to the academic world in 1932 and accepted the position of professor at Harvard University.
Along his career, Schumpeter was recognized as a unique and bright economist, who held many conferences in Europe, America and Japan.
Schumpeter was trained as a historical economist, but he was an early advocate of mathematics application in the economic theory. Nevertheless, he despised the mathematic patterns based on Adam Smith’s theories, as he was included along with Marx, Weber and Tawney in the “stadial theory” or among the historical economists. These economists perceive the changes occurred in economy as a proof of the structural changes occurred within the society.
An admirer of Weber, Schumpeter was a permanent supporter of Weber’s concept regarding the “social economy” – a reunion of sociology, economy and history in one discipline. He considered Weber as being more of a sociologist than an economist and himself as being more of an economist than a sociologist. He perceived Marx in the same manner, admiring his observations, but not his conclusions in the economic field. Nevertheless, he differs from other economists by the way in which he perceives the business cycle.
Peter Drucker, in his 60-year career, published 29 books, an average of one book in two years. His work is divided in three categories: social and political analysis books such as “The Future of Industrial Man” or “The Age of Discontinuity”, management books such as “The Practice of Management” or “Management: Tasks, Responsibilities, Practices”, and practical advice books for managers such as “Managing for Results” or “The Effective Executive”. In addition, he gathered his essays on a regular basis in books such as “The Frontiers of Management” and “The Ecological Vision”.
Nevertheless, his books are just half of his masterpiece. Along the years, Drucker wrote hundreds of articles. From 1975 until 1995, he wrote a monthly column, very often quoted, on the Wall Street Journal editorial page. At the same time, which is regarded by him as “the period of my greatest productivity”, he wrote 22 essays of 3500 – 6000 words each: eight for Harvard Business Review, three for The Public Interest, three for The Atlantic Monthly, two for Foreign Affairs, two for The Economist and one for New Perspectives, Inc., Forbes and Esquire. He gathered his best essays written in more than 50 years in his volume entitled “The Ecological Vision”. He also wrote two novels and managed to publish three books about management and four books about “society, economy and politics”, including the latest one, Drucker on Asia, which was written for the Japanese market and that appeared in English Language in 1997, and now is being translated in Korean, Portuguese, German, French, Spanish and Thai.