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

Thierry Aimar
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Thierry Aimar: BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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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; Capital ownership (search for similar items in EconPapers)
Date: 2021-04-24
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Published in Cambridge Journal of Economics, 2021, 45 (4), pp.811-832. ⟨10.1093/cje/beab001⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03209497

DOI: 10.1093/cje/beab001

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