Author： Rae David
Publisher： IP Publishing Ltd
ISSN： 1465-7503
Source： The International Journal of Entrepreneurship and Innovation, Vol.10, Iss.2, 2009-05, pp. : 137-147
Disclaimer: Any content in publications that violate the sovereignty, the constitution or regulations of the PRC is not accepted or approved by CNPIEC.
Abstract
Entrepreneurship, 'the pursuit of opportunity regardless of the consequences', is a privileged instrument of liberal market economics worldwide. Yet the financial turmoil resulting from the credit crunch suggests that the social and economic effects of unregulated entrepreneurial behaviour in pursuit of short-term profit are severe and self-defeating, resulting in massive destruction of value for national economies, businesses and individuals. This article examines the wider consequences of this 'old' entrepreneurship and, using examples, proposes the development of a 'new' entrepreneurship led by education, of which social responsibility, environmental sustainability and the practice of ethical and moral frameworks become integral components.
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