The entrepreneurship scholar plays with blocs: Collaborative innovation or collaborative judgment?

Nicolai J. Foss (), Peter G. Klein () and Matthew McCaffrey
Additional contact information
Nicolai J. Foss: Bocconi University
Peter G. Klein: Baylor University

The Review of Austrian Economics, 2019, vol. 32, issue 4, No 3, 330 pages

Abstract: Abstract Elert and Henrekson (2019) draw important connections between Austrian economics and the Schumpeterian literatures on “development blocs” and “the experimentally organized economy.” We appreciate their emphasis on experimentation and think that Austrian ideas on the time structure of production and the multiple specificities of capital offer complementary insights into why production is likely to be clustered, localized, and path-dependent. While we agree that Austrian economics can benefit from a “meso” level of analysis between individuals and market outcomes, we do not think their proposed Experimentally Organized Economy framework adds much to existing Austrian theory and policy analysis. We also suggest that, by focusing on Kirzner’s entrepreneurial discovery approach, Elert and Henrekson miss other Austrian approaches to entrepreneurship that can better inform their analysis.

Keywords: Austrian economics; Experimentation; Economic development; Entrepreneurship; B53; B15; L26; O43 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.com/10.1007/s11138-019-00461-0 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:revaec:v:32:y:2019:i:4:d:10.1007_s11138-019-00461-0

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11138/PS2

DOI: 10.1007/s11138-019-00461-0

Access Statistics for this article

The Review of Austrian Economics is currently edited by Peter Boettke and Christopher Coyne

More articles in The Review of Austrian Economics from Springer, Society for the Development of Austrian Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().