Abstract
Entrepreneurs carry the economic world on their shoulders. They take risks and face all uncertainties that are hidden in any market ventures. They are working hard for enhancing social well-being and productivity. Entrepreneurs do not come from vacuum. They need a conducive entrepreneurial culture for their thriving and preservation. In this article I explore the need and significance of the role of the state in creating conducive entrepreneurial culture for young, educated and talented prospective entrepreneurs in India. More than fifty per cent of Indian population are youth so we cannot let their future to be taken care of crony capitalism alone. We should help them to reach their own destiny on their feet. Cultivating a new entrepreneurial class of youth who can tap the economic potential of liberalised India is one of the major objectives of the state. State is not a passive spectator of the onward march of crony corporate capitalism is the basic premise upon which this article has been articulated.
Highlights
Entrepreneurs carry the economic world on their shoulders
On the other side of the spectrum we see Karl Marx who portrays an entrepreneur as someone who sucks the life blood of workers who are destined to work for the benefit, enjoyment and satisfaction of the entrepreneur under inhuman working conditions till he dies
A worker is nothing but a slave in the eyes of an entrepreneur in Marxian scheme of capitalism
Summary
Entrepreneurs carry the economic world on their shoulders. They take risks and face all uncertainties that are hidden in any market ventures. In the eyes of Schumpeter an entrepreneur is one who takes all the risks of a business and invests his hard earned money for the production of goods and services for enhancing social productivity of the nation bearing the brunt of uncertainty in the market. While Schumpeter portrays an entrepreneur as someone who provides life and happiness for the working class, Karl Marx sees him as someone who appropriates everything of the workers have.
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