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Furthermore, unlike later theories of entrepreneurship which saw the entrepreneur as a disruptive force, Cantillon anticipated the belief that the entrepreneur brought equilibrium to a market by correctly predicting consumer preferences.
Richard Cantillon (1755) is credited with the discovery of economic theory and was the first to fully consider the critical role of entrepreneurship in the economy. Cantillon described entrepreneurship as pervasive and endowed the entrepreneur with the most pivotal role.
- 260KB
- Chris Brown, Mark Thornton
- 13
- 2011
Jan 12, 1989 · Abstract. This book analyses the career and writings of the enigmatic Irish‐born economist Richard Cantillon, a banker and entrepreneur. Cantillon's work is examined in the context of the stock market speculation generated by John Law's Mississippi System and the South Sea Bubble of 1720.
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May 9, 2024 · Richard Cantillon was an Irish economist and financier who wrote one of the earliest treatises on modern economics. Cantillon was an Irishman of Norman origins and Jacobite connections who spent much of his life in France.
Arbitrage and the bearing of uncertainty Richard Cantillon (1755) stressed the importance of the entrepreneur as an arbitrageur or speculator, who conducts all exchanges and bears risk as a result of buying at certain prices and selling at uncertain ones. Cantillon's is a risk theory of profit: anyone who receives an uncertain income can ...
- Simon C. Parker
- 2004
Work. As a precursor of Austrian economic theory, Cantillon was the first economist to develop insights into the role entrepreneurship plays in the economy.
Abstract. An overall synopsis of the contents of the book. Keywords: Richard Cantillon, circular flow of income, entrepreneur, John Law. Subject. History of Economic Thought Individual Economists. Collection: Oxford Scholarship Online. Every good book, so one is told, should have a beginning, a middle, and an end.
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