Economics Two chapters are devoted to developing a body of economic thought that is consonant with entrepreneurship. The first chapter offers a critique of conventional economics. This considered to be an important since there is little evident acceptance by economists in Canada, and by traditional writers thus far, of the reality displayed by a pragmatic entrepreneurial “economics.” Here the history of entrepreneurial economic thought is examined. What is actually presented is the well-accepted European model of economics, the Austrian school. Joseph Schumpeter founded the first entrepreneurial studies program at Harvard. The fifty chapter proposes an “adjusted” series of propositions that set out entrepreneurial economic principles, which are followed by the presentation of a more representative entrepreneurial macroeconomic model.