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I was at an HES conference when one of the presenters made out a case that  
Adam Smith did not like entrepreneurs who he termed "projectors" perhaps  
thinking that they were all like John Law.  But what about those who helped  
build Coase's lighthouses, etc.? Smith liked the merchants and retailers who  
demonstrated prudence, self-reliance and attention to details, but not the  
"big picture" types who imagined a new future, etc.   
 
Should we agree that even if the word "entrepreneur " were used by Smith he  
would have attacked these personalities and not appreciated the function they  
perform?   
 
I would like to hear from others on this. 
 
Laurence S. Moss 
 
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