QUESTION - Who coined the term "entrepreneur"?
ANSWER -
Jean-Baptiste Say was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is best known for Say's Law, also known as the law of markets, which he popularized.
ANSWER -
Jean-Baptiste Say was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is best known for Say's Law, also known as the law of markets, which he popularized.
For one, it wasn't Adam Smith. One person strangely overlooked in Smith's free market masterpiece, The Wealth of Nations, is the entrepreneur. This is because the term was actually coined by an admirer of Adam Smith's book. Entrepreneur is a French word coined by the economist Jean-Baptiste Say, and usually is translated as, "adventurer". Say studied Smith's book and, while agreeing on all points, found that the omission of enterprising businessmen was a serious flaw.
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