ABSTRACT
Schumpeter’s theory of economic development and the theory of entrepreneurship within it stimulated a new wave of research on entrepreneurship in the twentieth century. Reaction by twentieth-century writers has been quite diverse, however. At Harvard University, Schumpeter’s academic base of operations in the United States, a tradition began that studied the entrepreneur from the standpoint of economic history. Other writers have been more concerned with the analytics of Schumpeter’s theory, especially the question of whether the entrepreneur is an equilibrating or disequilibrating force. Still other writers divide themselves along neoclassical and Austrian lines. In this chapter we expose and examine these different approaches and the writers who advanced them.
