The Capitalist-Entrepreneur

Abstract

This thesis presents and investigates a theory of entrepreneurship based on the Austrian School of Economics. By using a different theoretical framework than that of conventional economics we deduce a holistic theory of entrepreneurship and seek to explain other economic phenomena, such as the emergence of firms and business cycles, on the basis of this. We also suggest implications this new theory has for micro-economic models, management theory and public policy. We find that the Austrian School of Economics helps shed light on many phenomena that are poorly elaborated upon by conventional economics.