Discovery or ownership? A new light on an Austrian controversy over entrepreneurship

Thierry Aimar

Cambridge Journal of Economics, 2021, vol. 45, issue 4, 811-832

Abstract: This article delivers an original analysis of an Austrian controversy between Rothbard and Kirzner about the relationship between entrepreneurship and capital ownership: in real-world markets, must the entrepreneur be a capitalist or not? The two authors were opposed to each other on that issue. Here, we will take a new look at existing literature by proposing a review of the key terms used in the debate. The thesis we defend here is that Rothbard and Kirzner were suffering from a mutual conceptual misunderstanding. Thus, taking an original view aims to steer the debate to a positive outcome and to reconsider the Austrian relationship between entrepreneurship, ownership and exploitation of capital.

Keywords: Entrepreneurship; Ownership; Capital; Uncertainty; Alertness (search for similar items in EconPapers)
Date: 2021
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