This thoroughly revised and updated edition of Mark Casson's "The Entrepreneur" presents a novel synthesis of the ideas of Joseph Schumpeter, Frank Knight and Friedrich Hayek, according to which the defining characteristic of the entrepreneur is the exercise of judgement in business decisions. The volume argues that good judgement is based on a unique combination of information, and that this information is typically exploited by founding a "market-making" firm, which links customers and suppliers who could not otherwise make contact with each other. This assessment of entrepreneurship, Mark Casson contends, has important implications for the growth of firms, social mobility and "enterprise culture". Table of Contents Part I Theoretical foundations: the significance of the entrepreneur basic concepts of the theory the entrepreneur as intermediator the competitive threat to the entrepreneur partial coordination - the case of innovation. Part II The market-making firm: making a market internal and external markets the market for information speculative intermediation and the role of inventory management organizing the supply of market-making services. Part III Synthesis: growth and dynamics of the firm the market for entrepreneurs social mobility and the entrepreneur alternative theories of the entrepreneur