The entrepreneurial myth, globalization and American economic dominance

Abstract

PurposeThe paper aims to point out that the seemingly new and novel has ancient historical precedents.Design/methodology/approachThis is an interpretive essay. It begins with an historical examination of the role of entrepreneurship in the economy and points out that its function has been largely reactive rather than one that is a fundamentally causative prime mover.FindingsThe role is described with noteworthy illustrations that are recurrent and extend over centuries, if not millennia, in time. Their conspicuous quality is a moral repugnance. The role continues into the present.Practical implicationsThe underlying causal factors have changed, but the indifference to general public welfare is a continuing feature.Originality/valueProvides a critical examination of the role of entrepreneurship in the economy in a historical perspective.