The institutionalization of libertarianism also saw the emergence of a raft of legitimating ideological counterparts, based on populist philosophies of acquisitive self interest and personal responsibility, provoking a resurgent nationalism and an entrepreneurialistic ethos manifest in the emergence of a new business and bureaucratic elite (Jesson, 1987). This encouragement of entrepreneurship has been an integral element in the fostering of business development at the local level and has been easily accommodated into the prevailing ideology and its discourse. Galbraith (1972: 75) captures the spirit of the shift with his observation that “corporations are notably soulless. The entrepreneur-individualistic, restless, with vision, guile and courage-has been the economist’s only hero”.