Tuesday, December 09, 2008


There's always a certain confusion about exactly what is entrepreneurship and what is an entrepreneur.

To an economist the answer is easy enough, even if the answer has only recently been arrived at. There used to be thought to be only three factors of production. Land, labour and capital. These would in some mysterious manner organise themselves so as to be efficient in their production.

The way we now think of it is that there is a fourth factor of production. That's the entrepreneur. The dreamer, thinker, risk taker, who roganises the other three and thus makes them more efficient....if he's to be successful and he'll be unsuccessful if he makes them less productive.

Now if you want to know more about all of these things, in detail rather than the rather broad brush approach I've used, might I suggest you click through any of the links, to learn more about how to be a young entrepreneur and young entrepreneurship in general as well?

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