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Essay / Research Paper Abstract
A 3 page research paper that discusses the relationship between private ownership and entrepreneurship. The writer argues that the generating capitalistic force of entrepreneurship can only operate within the framework provided by free enterprise and private ownership. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_khprient.rtf
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Unformatted sample text from the term paper:
on the particular economies in which entrepreneurs operate. This generating capitalistic force can only operate within the framework of private enterprise. Examination of the relationship between private ownership and entrepreneurship
shows that without the right to own private property and to have that right protected by the state, there is no incentive for entrepreneurs to pursue business goals.
The concept of entrepreneurship has a variety of meanings. It can refer to an individual of high ability who pioneers change that radically affects others. Entrepreneurs such as Bill Gates
(of Microsoft) and Steven Jobs (of Apple Computers) pioneered a new age in computing by introducing and promoting personal computers. This definition of entrepreneurship follows the thinking of Austrian economist
Joseph Schumpeter, whose definition of entrepreneurship places an emphasis on the aspect of innovation, stating that the entrepreneur introduces new products, production methods, markets or forms of organization (Definition of,
2004). On the other hand, the term "entrepreneur" can also refer to anyone who wants to strike out on their own in business and not work for someone else
(Definition of, 2004). In this manner, small business owners can also be viewed as "entrepreneurs." In either case, the term "entrepreneur" is generally recognized to mean "someone who organizes and
assumes the risk of a business in return for the profits" of that business (Casson, 2002). In a state-run economy, such as those that existed in the former Soviet Union
and its satellite countries, the government officially owns all enterprise. If an individual is not permitted by the government to own a business, if all profit from sales goes to
the state rather than to the individual, it immediately robs the potential entrepreneur of any reason to pursue business innovation. Socialist theorists rejected the primary principles of individualism, which
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