The parable of “An Elephant and the Blind Men”: Comparing the approach of sociology and economics to the problem of entrepreneurship

Abstract

It is not simple at all to answer as why some people become entrepreneurs while others don't. Most researchers have accepted this puzzle and defined entrepreneurship in various ways, thus, making it a controversial term to develop theories around it. In the midst of contradictory ideas in the field of entrepreneurship, the contribution of social sciences such as sociology and economics is significant. However, their perspectives on the subject differ. Sociology sees individual agency as more significant than social factors, while economics assumes the opposite. This has led to the dual perception of under-socialized and over-socialized, with both being incomplete. This duality can be compared to the blind description of an elephant in the dark - each person touches the elephant from different angles and presents own point of view to refute the other. This article aims to explain this duality and approaches of sociology and economics towards the issue of entrepreneurship. It is theoretical in nature and explores the path that flows between the two opposite poles, using the new economic sociological paradigm. This approach aims to go beyond the duality of under-socialized and over-socialized perceptions, allowing for a better understanding of entrepreneurship in its social and historical contexts.

Keywords

• economic sociology
• sociology of entrepreneurship
• entrepreneurship
• embeddedness
• network