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.