ABSTRACT
This chapter helps the reader to understand the economic considerations, particularly market failures, that make social entrepreneurship desirable and necessary. It aims to recognize why governments are sometimes unable to solve social and/or environmental problems. The chapter also helps the reader to understand why private businesses are sometimes unwilling to address social and/or environmental problems, and to become familiar with the relatively recent developments that make social entrepreneurship possible. It describes the characteristics of social entrepreneurship that position it as a powerful force for solving society’s problems. The chapter offers an introduction to the field of social entrepreneurship and a discussion of its importance to society. In addition, it lists online resources to help the student begin her or his journey of understanding. The chapter ventures into territory that some people might find contentious; however, it is out of this very contentiousness that social entrepreneurship was forged.
