Some of the literature on entrepreneurship suggests that the term entrepreneur was first introduced by either Cantillon or Say during the industrial revolution in the 18th and early 19th centuries. This article, by contrast, shows the term and the concept to be far older. Moreover, before the...

When it comes to entrepreneurship, the conceptual framework of economics is disjointed: on the one hand most everyone agrees that entrepreneurial initiative and creativity are critical for economic progress. On the other hand neither initiative, nor creativity, plays any role in formal models of...

To clarify Say's arguments on gluts and effective demand, this paper offers a formal mathematical restatement of his arguments on the relationships between markets. In the process, the paper demonstrates that what we now refer to as 'Say's Law' is a ludicrous caricature of Say's actual...