's essay on the nature of trade in general.
It was first defined by the Irish-French economist, Richard Cantillon
, as a person who pays a certain price for a product, only to resell it at an uncertain price, thereby: 'making decisions about obtaining and using the resources while consequently admitting the risk of enterprise.'
Yet, the fact is that entrepreneurship is actually one the oldest economic and social phenomena studied, and its academic roots can be traced back nearly 300 years to the early 18th century and the Irish-French economist Richard Cantillon
Whilst many think the study of entrepreneurship is a recent phenomenon, its academic roots can be traced back to the early 18th century and the Irish-French economist Richard Cantillon
(168?-173?) is widely considered the father of economic theory for providing the first theoretical analysis of commerce in his Essai sur la Nature du Commerce en General, posthumously and anonymously published in 1755.
Previously based in York, Newcastle University graduate Mr Winspear will shortly be joined in Corbridge by Richard Cantillon
from the firm's Dumfries office.
The term is originally a loanword from French and was first defined by the Irish economist Richard Cantillon
. Entrepreneur in English is a term applied to the type of personality who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome.
"Men multiply like mice in a barn if they have unlimited means of subsistence." Richard Cantillon
(1680-1734), Austrian economic theorist
The Irish economist established in France, Richard Cantillon
, has the historic honour of `coining' the term `entrepreneur' in economic literature.
Political economy, whose leading eighteenth-century champions were Richard Cantillon
, Francois Quesnay, and Adam Smith, followed up on Thomas Hobbes and William Petty's supposition that individuals behaved in the economic realm as rational, self-centered decision makers.
If Richard Cantillon
had not written the Essai sur la nature du commerce en general, he would, nonetheless, have acquired some modest fame as a successful insider dealer and occasional associate of john Law of Lauriston, one of the pioneers of the junk bond.