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The classical and the neo-classical tradition both concerned primarily with the establishment of natural or equilibrium prices. It is the French classical tradition that the origin of the idea that profit is an income different from received capital and that it goes to the entrepreneur.
The Cantillion's entrepreneur, whether an undertaker, a land owner, or a craftsman is seen as an in between, a speculator who assumes the risk of buying goods, at one price and attempt to sell them for a profit, either in their original states or as new products. Thus as Kirzner (1973) would out it this act of entrepreneurship consists of ?realising the existence of market value that has hitherto been overlooked'...
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