This week we tackled early general equilibrium and theories of Joseph Schumpter, who borrowed many of the key insights of marginalist theory but also adopted a more dynamic approach to the study of market economy, introducing the concept of creative destruction and business cycles. Upon their respective theoretical systems, equilibrium theorists, on the one hand, and schumpter, on the other, developed quite distinct views of the role and function of the entrepreneur. I would like you to reflect on that.

What are the main differences between the function of the entrepreneur in early general equilibrium and in Joseph Schumpter? Do you think that their theories could be applied the analysis of modern day corporations?