ABSTRACT
A pioneer in entrepreneurial thought who emerged after the era of Joseph Schumpeter is British economist Mark Casson who published The Entrepreneur—An Economic Theory in 1982, where he combines some elements of the Schumpeter model with relevant aspects of neoclassical economics. In addition, various streams of thought have been developed by numerous investigators who seek to explain and/or expand the knowledge of entrepreneurship by combining it with other issues or concerns. Like Ying, Roche is primarily concerned with connecting entrepreneurship with neoclassical economics even if doing so involves relaxing key neoclassical assumptions, such as success to perfect information. Significant research has emphasized that entrepreneurial efforts are often exhibited by members of distinctive groups that possibly exist outside of the typical, and/or “acceptable” structures of society. The consensus is that an outsider status can provide a psychological willingness to challenge the status quo in an entrepreneurial manner. The works of Schumpeter and those associated with his theories are invaluable but limited.
