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Joseph Schumpeter believed that history was essential to the study of entrepreneurship. It is a perspective that has been lost in recent scholarship. This paper shows why this has been detrimental to the field, and explores how the current situation can be improved. We begin by surveying the development of the social scientific literature on entrepreneurship since the field first emerged as an area of academic interest in the 1940s. We show that, despite theoretical agreement on the importance of context in the study of entrepreneurship, empirical research in recent years has ignored historical setting in favor of focusing on entrepreneurial behavior and cognition. The result has been a pre-occupation with high-tech start-ups in the United States, and growing irrelevance from the major issues in the contemporary global economy. The paper outlines ways in which the rediscovery of history can facilitate entrepreneurial studies, using examples from international entrepreneurship. We conclude by arguing that these methods can stimulate the kind of exchanges between the history and theory of entrepreneurship that Schumpeter envisioned.

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NOTE: This is the most recent draft of a work-in-progress. Errors and omissions are par for the course. If you do bother to read it, please quote only the sensible bits.

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We also gratefully acknowledge the assistance of Wiboon Masuchun and Mark Brendle.

The relationships among vision attributes, vision content, vision communication, and venture growth were explored in one industry using a longitudinal design. Charismatic leadership, entrepreneurship, and business strategy theory guided the formation of hypotheses that were tested with data collected from 183 entrepreneur/CEO and employee pairs. Visions were evaluated for 7 attributes that were derived from the literature and for content. Structural modeling confirmed that vision attributes and vision content affect subsequent venture growth, both directly and through verbal and written communication. A Longitudinal Study of the

Cambridge University Press, forthcoming) A problem that strikes one in the study of history, regardless of period, is why man makes a poorer performance of government than of almost any other human activity. In this sphere, wisdom... is less operative and more frustrated than it should be.- Barbara W. Tuchman (Tuchman, 1980) 1. Definitions and Examples Wisdom in public policy is good judgment about important matters, especially embodying a genuine commitment to the well-being of individuals and to society as a whole. In international politics wisdom is the core of statesmanship, extending a commitment to the well-being of peoples of other nations, and often restructuring the international system to work better for future generations. If political wisdom can be engaged there is a growing potential to create a better world. The rapid advance of the physical sciences and the growing wealth, levels of education, and democracy in advanced countries and some UDCs provide new resources that well-intentioned people can use to mitigate scarcities and human-caused evils and create solutions to meet basic human needs of all people. The post Cold War period, like earlier victories in world politics, provides new opportunities for statesmanlike thinking and

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