THE DEVELOPMENT OF ENTREPRENEURSHIP.

The article deals with the development of entrepreneurship. Discussion of economic development, since the revival of interest in the late forties, almost invariably starts with the acknowledgement that economic growth depends on a complex of interrelated factors. With this out of the way, the tendency is to focus on a single key factor not the only, but the most important, determinant of growth. The emphasis at various times and by various authors has been on technical knowledge, ideological fervor, natural resources, governmental organization, motives and attitudes, and capital. Emphasis has recently shifted to the key role of decision-making innovators, particularly in industry-in a word, entrepreneurs. Stress on the importance of entrepreneurs hardly qualifies one as innovator in economics. The industrial entrepreneur is a distinct personality type. At the least, he must believe that change is possible and can be brought about by individuals, and he must be motivated to action bringing it about.