This paper discusses the historical evolution of entrepreneurship round the world and constructs a holistic framework on the entrepreneurship spirit. Based on the institutional logic perspective, we propose the two united aspects of entrepreneurship: " knowing” and " practicing”. Applying comparative historical analysis, we compare entrepreneurship between China and foreign countries in ancient, modern, contemporary, and future times. It is found that with the expansion of social and economic activities, individual freedom is gradually awakening, and entrepreneurship evolves from widespread suppression to germination and growth, and becomes the driving force of human well-being.
Entrepreneurs could be the builder and the watcher of the Zeitgeist. To be the builder of the Zeitgeist, entrepreneurs need to maintain the innovative tension of Yin-Yang paradox in the interaction of " knowing” and " practicing”, constantly balance financial returns and social benefits, and realize the ideal of benefiting the society. To be the watcher of the Zeitgeist, entrepreneurs need to adhere to the tradition of " beneficiaries, the harmony of righteousness”, keep the fair and spontaneous order of the market, and contribute to the welfare and Sheng-sheng-bu-xi of the whole society.
Finally, we illustrate research opportunities of entrepreneurship. An ancient Chinese concept Tian-xia (All-under-heaven) could dialogue with a Western term of " inclusive growth”, while another Chinese concept Sheng-sheng-bu-xi could dialogue with a Western concept of " sustainable development”. Essentially, entrepreneurship is a combination of various contradictions and paradoxes. Future research could explore the conceptualized Tian-xia and Sheng-sheng-bu-xi with the Yin-Yang paradox perspective on entrepreneurship, analyze how entrepreneurship manifests and emancipates under different institutions and cultures, and develop a construct examination of entrepreneurship spirit.