to justify and establish government monopoly over the business and to capacitate government to intervene in the affairs of the entrepreneurs. Folsom is of the view that creation of this myth has political motives as well i. political and market intermingles with each other and most entrepreneurs possess the characteristics of the both categories. Additionally, he displays the both trends i. He categorizes these entrepreneurs as “market entrepreneurs” and “political entrepreneurs’ but further clarifies that no entrepreneur can be classified into a single category as their activities and objectives are overlapped. ![]() Folsom explains these two distinguished types of entrepreneurs in details and his in-depth analysis of these distinct types shows apparent differences among them. These entrepreneurs were political in nature and worked only to establish and strengthen their business empires. He describes that there were numerous entrepreneurs who established their influence in the political and official sectors in order to serve their own vested interest.
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