Mark Casson’s The Entrepreneur at 30

16 07 2014

I find that I’m citing Mark Casson with increasing frequency, so I thought I would re-post Peter Klein’s interesting blog post about Casson’s ideas.

Someone once said to me that Casson would have received the Nobel Prize already if he were American. I don’t know if that’s true, but he is certainly a major figure in a number of fields.

Organizations and Markets

| Peter Klein |

2012 marked the 30th anniversary of Mark Casson’s classic work The Entrepreneur: An Economic Theory. Casson was one of the first economists since Frank Knight to elaborate on the role that uncertainty and judgment play in entrepreneurial decisions. Casson’s book offers not only a critique of the theories of competition and the firm offered in neoclassical microeconomics, but also a positive theory of the entrepreneur as a judgmental decision-maker under uncertainty. Casson’s work had a strong influence on the Foss-Klein approach to entrepreneurship, as well as Dick’s work on the theory of the firm.

Sharon Alvarez, Andrew Godley, and Mike Wright have written a nice tribute to The Entrepreneur in the latest edition of the Strategic Entrepreneurship Journal.

Mark Casson’s The Entrepreneur: An Economic Theory (1982) has become one of the most influential books in the field of entrepreneurship. For the first time, this article outlines…

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