1. Richard Cantillon (1680 – 1734)
Richard Cantillon is an economist who contributes his brilliant idea in classical school. He wrote “Essai sur la nature du commerce en general” in year 1755. He is the first person who use the term of entrepreneur. In his essay, he argues how important the role of entrepreneur in economic activity is. He defined the entrepreneur as a person or businessmen who purchase goods (stock) at particular price and resell it to gain a profit. “Resell it to gain a profit” bring them to risk. That risk refers to the probability of profit or loss do they get. The uncertain of return do they get encourage them to make a good decision in obtaining and using resources to increase the probability to gain a profit.
He adds, the entrepreneur always seeking the opportunities in the market to spread their business further.
2. Adam Smith (1723 – 1790)
Adam Smith is the farther of economic. His most popular book is Wealth of Nation. In his essay sometime he uses the word “enterpriser” to explain about entrepreneur. He advocates the entrepreneur as a person who evaluate the information of industrial organization, then take the best information as an opportunity to success in business activity. Entrepreneur is the role of industrialist. He adds the entrepreneur able to see future needs. In other words, he is able to identify the prospect of demand for goods and service.
3. Jean Baptists Say (1767 – 1832)
He wrote the essay “A Treatise on Political Economic” in year 1845. In his essay, he argues the factors of production are not just land, labor and capital. The factors of production include entrepreneur. Overall the factors of production are four which are land, labor, capital and entrepreneur. An entrepreneur, he said, has the ability to create new pattern of business. This new pattern of business is likes awareness to the society of what really they need. The entrepreneur will able to fulfill society’s need by using the available resources.
4. Joseph Alois Schumpeter (1883 – 1950)
Schumpeter said the dynamic economic is depend on the existence of innovation. He believes that the innovation comes from entrepreneur. He defined an entrepreneur as a person who always comes with the new combination of available resources as well as introducing the new innovation. He pioneers in introducing new product, new process, and new pattern of business which not even one people think about it before. These new product, new process, and new pattern of business are actually creating the opportunities. The entrepreneur is the reason of technology blooming.
0 comments:
Post a Comment