Coclanis, Peter A. (2007). Entrepreneurs and Entrepreneurship. South Now, 10
Is entrepreneurship one of the so-called factors of production, along with land, labor, and capital? Or should it be treated separately? If treated separately, is it of greater or lesser importance than the “holy trinity” covered early on in Econ 101? Further, even if we could agree on definitional matters and on questions of placement and importance, how do we measure entrepreneurship? Unlike land, labor, and capital—quantitative variables which, in principle, can all be measured— entrepreneurship is a softer, qualitative, sociocultural variable that doesn’t lend itself to precise measurement. Thus, any consideration of entrepreneurship is perilous even before we move into orthographic terrain.
Coclanis, Peter A.