2The Landscape of Modern American Enterprise

Would-be entrepreneurs and business owners abound in the United States. These prospective entrants to the business world come from different corners of the workforce and beyond; they are employed, underemployed, unemployed, self-employed, semiretired, and retired. The late U.S. Supreme Court Justice Potter Stewart once said when defining obscenity, “I know it when I see it.” The same can be said of entrepreneurship.

You might think that in this entrepreneurship-crazy nation, we would know an entrepreneur when we see one. However, there’s really no universally accepted definition of entrepreneurship. Definitions range from the high-minded to the pragmatic, from the whimsical to the unimaginative.

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