Pakistan Early Civilizations History

A Literature Review Of Schumpeter And Kirzner - 2338 Words

A Literature Review of Schumpeter and Kirzner: Entrepreneurship Ben Sparrow Edinburgh Napier University 2014 Contents: 1.0 Introduction 1.1 Terms of Reference †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 1.2 Defining Entrepreneurship †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 2.0 Entrepreneurial Theories 2.1 Schumpeter †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2.1.1 Example †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 2.1.2 Critique of Schumpeter †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2.2 Kirzner †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2.2.1 Example †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 2.2.2 Critique of Kirzner †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 3.0 Comparison of the Theories 3.1 Differences †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 3.2 Similarities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 4.0 Conclusion†¦show more content†¦In his view, the entrepreneur is a revolutionary innovator that â€Å"requires aptitudes that are present only in a small fraction of the population† (Schumpeter, 1946, p.132). These aptitudes include; a strong intellectual capacity, drive and determination, creativity, and leadership skills (Schumpeter, 1934). Schumpeter (1934, p.74) states that â€Å"the carrying out of new combinations we call ‘enterprise’; the individuals whose function it is to carry them out we call ‘entrepreneurs’†. Simply put, Schumpeter views entrepreneurs as innovators; however, it is important to note that Schumpeter (1934, p.88) only views those that commercially exploit their creations as innovators, declaring â€Å"as long as they [inventions] are not carried into practice, inventions are economically irrelevant.† For Schumpeter, it is the commercial exploitation of these new inventions, created by the innovators that he refers to as entrepreneurs, which drive economic development (Fig.2). This is because, in the process of exploiting this new creation, be it an invention or new production method, the entrepreneur breaks the economy out of its static equilibrium, disturbing whatShow MoreRelatedMCMULLEN SHEPHERD Entrepreneurial Act13331 Words   |  54 Pagesà ® ½ Acade my of Management Review 2006, Vol. 31, No. 1, 132–152. ENTREPRENEURIAL ACTION AND THE ROLE OF UNCERTAINTY IN THE THEORY OF THE ENTREPRENEUR JEFFERY S. MCMULLEN Baylor University DEAN A. SHEPHERD Indiana University By considering the amount of uncertainty perceived and the willingness to bear uncertainty concomitantly, we provide a more complete conceptual model of entrepreneurial action that allows for examination of entrepreneurial action at the individual level of analysis while remainingRead MoreExamine the view that marketing theory and concepts portrayed in the traditional marketing literature have only limited application in guiding small business marketing practice.1693 Words   |  7 Pagestheir actual and potential customers. In order for them to do this, they need to follow some sort of theory and concept. This assignment will be looking at the marketing theory and marketing concepts which are portrayed in the traditional marketing literature, and how they have limited application in guiding small business marketing practice. 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The paper will startRead MoreEntrepreneurial Motivation3320 Words   |  14 Pages1.0 Introduction The study of the successful entrepreneurship is important for several reasons: †¢ Schumpeter, 1934, described entrepreneurship as the engine that drives innovation and change, and subsequently economic growth †¢ Austrian economist Kirzner believes entrepreneurship is the mode through which equilibrium of supply and demand is reached †¢ According to Shane and Venkataraman entrepreneurship converts knowledge into marketable products and services: thus a means of encouragingRead MoreStartup/Seed Stage Investment by Venture Capital12291 Words   |  50 Pagesyet tracked results of companies that have come out of EIR programs or to explain what factors influence the degree of success of an EIR relationship (no academic papers that dealt in the subject were found, only references in the VC professional literature). This research will look at the ICT â€Å"startup/seed† startups in Israel; look at results coming from â€Å"high status† entrepreneurs in the Entrepreneur/Executive in Residence (EIR) programs versus equally â€Å"high status† entrepreneurs that are not inRead MoreThe Entrepreneurial Mind-18021 Words   |  73 Pagesimplement these ideas; and realizes the rewards from these efforts.2 The entrepreneur is the aggressive catalyst for change in the world of business. He or she is an independent thinker who dares to be different amid a background of common events. The literature of entrepreneurial research reveals some similarities, as well as a great many differences, in the characteristics of entrepreneurs. Chief among these characteristics are personal initiative, the ability to consolidate resources, management skills

Income and spending free essay sample

The change in consumer spending divided by the change in disposable income. B. Total consumer spending divided by total income. C. Disposable income divided by consumption. D. The change in disposable income divided by the change in consumption. 2) Assume a consumption function is C = 500 + . 80 Yd. This means A. Consumers will save 80 cents out of each additional dollar in disposable income. B. Consumers will spend $500 in addition to current income. C. Consumers will spend $500 plus 80 cents out of each dollar of disposable income D. he marginal propensity to consume is . 20. 3) In a model with no government or foreign sector, if saving is defined as S 200+ (0. 1)Y and investment is 10 = 200, what is the equilibrium level of consumption? A. 3,800 B. 3,600 c. 1 soo D. 2,000 E. 1,000 4) In a model with no government or foreign sector, if autonomous consumption is Co = 80, investment is 10 = 70, and the marginal propensity to save is s = 0. 25, equilibrium income is A. 150 B. 0 c. We will write a custom essay sample on Income and spending or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 225 D. 600 E. 750 5) The 45-degree line on a graph relating consumption and income shows: A. all points where the MPC is constant. B. all points at which saving and income are equal. C. all the points at which consumption and income are equal. D. the amounts households will plan to save at each possible level of income 6) If the MPC is . 8 and disposable income is $200, then A. consumption and saving cannot be determined from the information given. B. saving will be C. personal consumption expenditures will be $80. D. saving will be $40. 7) The MPC for an economy is: A. the slope of the consumption schedule or line. B. the slope of the savings schedule or line. C. 1 divided by the slope of the consumption schedule or line. D. 1 divided by the slope of the savings schedule or line. 8) At the point where the consumption schedule intersects the 45-degree line: A. the MPC equals 1 B. the APC is zero. C. saving equals income. D. saving is zero. Answer the next question(s) on the basis of the following consumption schedule: C 20+ . Y , where C is consumption and Y is disposable income. 9) Refer to the above data. The MPC is: A) . 45. B) . 20. C) . 50. D) . 90. 10) Refer to the above data. At an $800 level of disposable income, the level of saving is: A) $180. B) $740. C) $60. D) $18. 1 1) In a Keynesian model of income determination, when intended spending is greater than actual output, the adjustment to a new macro-economic equilibrium is based on changes in A. autonomous consumption B. unplanned inventories C. government spending D. net exports E. all of the above

Native American Religious Beliefs Essays - Americas, Spirituality

Native American Religious Beliefs Through out history, historians have had the ability to pass on the knowledge of the past because of written documents and other forms of evidence that acknowledge the existence of past civilizations and cultures. When there are no written documents, whether lost or never created, it can be more difficult for historians to explain past civilizations. The Native Americans were a group that kept no written records. The information that we know today was passed down from generation to generation through oral traditions. Despite the information we have, there is much more that researchers don't know about because a considerable amount of information has either been lost or has been impossible to obtain. But from what we already know, historians can conclude there are common characteristics that seem to be shared by all of the Native Americans. I will also include the creation myth of the Osage Indians and the afterlife beliefs of the Lakota Sioux. Although there are many points of contrast, the beliefs of Native Americans are distinguished by some common characteristics (p.54 Nigosian). Some of these characteristics are that they all seem to believe in the existence of a high god or vital force along with lesser gods and spirits and that certain individuals possess sacred power and therefore can act as intermediaries between the tribe and the deities. In the ceremonies associated with ritual and initiation, they engaged in certain traditional rites that were designed to perpetuate the smooth operation of the natural order, including human society, and they all believed that by repeating stories or by storytelling they kept the world alive (p.54 Nigosian). Therefore, the Native Americans viewed life evolving around a holy force that holds all things together, which leads to the basic goal of staying in "harmony with all natural and supernatural powers (p.62 Nigosian)." This leads me to believe that the spirits they had for different aspects of nature and their environment were the primary deities they worshipped or venerated. "By and large, however, [Native Americans] believed that the aid of the high god may be propitiated by ritual action (p.62 Nigosian)." And in spite of disparities among regions, the majority of the Native Americans believed in the active roles of both good and evil spirits. Amid the good spirits are mythical such as "thunderbirds, as well as mountains, rivers, minerals, flint, and arrowheads." The evil spirits were "giant monsters, water serpents, tiny creatures that haunt woods and ponds, and the spirits of the dead that come to inflict pain, sorrow, or death (p.62 Nigosian)." Each tribe also had a "culture hero," whose job was to socialize the tribe. In opposition or contrast was the "antihero," or better known as the trickster. Another common feature of Native American traditions is creation myths. "In these imaginative stories, no distinctions are made among gods, spirits, the universe, nature, animals, and human beings. On the contrary, the stories imply a close mystical relationship binding each element (p.64 Nigosian)." Although the Native Americans had several types of creation stories, "the two most common themes are those of creation emerging out of chaos" and creation as a result of conflict between good and evil forces (p.64 Nigosian). The following is a basic gist of the Osage Indians'creation story. Once, the Osage Indians lived in the sky. Wanting to know their origin, they went to the sun. The sun told them that they were his children. Then they wandered about until they came to the moon. She told them that she had given birth to that and that the sun was the father. Then she told them to go settle on the earth. When they came to the earth, they found it covered with water. So they wept, because no on would answer them, and they couldn't return to their former place. While floating around in the air, they searched for help from a god but with no avail. The animals were there, too, and they appealed to the elk, the most finely and most stately. The elk then jumps into the water and calls for the wind, which then lifted up the water like a mist. The elk then provides land and food. As for the concept of an afterlife, it seems that Native Americans were not as concerned with the hereafter as they were with their immediate life. However, an afterlife was a common belief that varied with the different tribes. Here is an example, the afterlife belief of the Lakota Sioux. "The Lakota Sioux Indians have beliefs that are unique