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The importance of small enterprise to the economy is now widely recognized not only by the Western industrialized world, but also by many countries, which formally had socialistic forms of government. Former Communist countries as well as less developed countries that are working to fuel their economies are expending considerable effort to foster entrepreneurship (Kasadara, 1992).

“If entrepreneurship remains as important to the economy as ever, then the continuing failure of mainstream economics to adequately account for entrepreneurship indicates that fundamental principles require re-evaluation” (Shook, 2003).