Schumpeterian Entrepreneurship as a Guide to “Transition”

Author: J. Hanns PICHLER
Published in: Vol:8 No.3 / 2007

      In trying to paintbrush background and scientific "environs" when Schumpeter`s visionary "Theory of Economic Development" (1912) came out, classical and neoclassical thought as well as Marx’ "Capital" had been exposed already for some time to scholarly scrutiny by the learned community.
      In neither classical-neoclassical nor Marxian visions, the entrepreneur explicitly figures. It is Schumpeter`s truly seminal interpretation of the capitalist process, wherein the entrepreneur as such takes centre stage as the "pioneering" and driving force in a dialectic sense as, in fact, sort of a villain, as the "antithesis" to the market system. As indeed an element constantly striving to outmanoeuver constraining competition, to "trick" given market conditions and, thereby, forever challenging the “system" itself; or more pointedly still: when and wherever possible to be, or to become, a monopolist.
      When relating this to modern entrepreneurship, its pivotal role in a regional and global or, more specifically so, in a structural as well as developmental context, Schumpeter`s vision, nowadays, more than ever in times of dynamic change may serve as a guide for any entrepreneurially oriented policy formulation.