A transactional view of entrepreneurship: a Deweyan approach

Neoclassical and Marxian theorists have generally failed to explain entrepreneurship, and for an obvious reason. To apply the calculus of optimization, neoclassical theorists have to treat the set of resources as an object that exists 'initself,' i.e., independent of the acting subject. On the other hand, Marxian theorists, in advocating the labor theory of value, have to treat labor activity as an expression of an abstract ability which can be easily measured across the diverse concrete activities. John Dewey, throughout his writing stretching over half a century, has undermined the objectivist view of means and of labor activity. Dewey, in fact, objected to the means-end dichotomy. This opens a window for a theory of entrepreneurship.