Schumpeter's Legacy? Interaction and Emotions in the Sociology of Entrepreneurship

Abstract

Joseph Schumpeter's work has long been regarded as a seminal contribution to entrepreneurship theory. However, relatively little attention has been given to exploring the sociological implications of his insights. This article examines Schumpeter's early writings on the entrepreneur and focuses on the apparent contradiction between his understanding of the inhibitory effect of social control and the entrepreneur's strength of will. This tension is resolved by recourse to contemporary social theory of interaction and emotion. A synthesis of these works produces two hypothetical modes of entrepreneurial action. These are elaborated and their implications for the understanding of entrepreneurship discussed.