Entrepreneurship: State of grace or human action? Schumpeter’s leadership vs Kirzner’s alertness

Carmelo Ferlito

MPRA Paper from University Library of Munich, Germany

Abstract: Joseph A. Schumpeter developed a very well-known theory of entrepreneurs and entrepreneurship, centred on the concept of ‘new combinations’. According to him, innovation and entrepreneurship are destructive elements driving the system beyond an equilibrium position and setting in motion a competitive process, in order to reach a new equilibrium point. Though Austrian, Schumpeter was never a member of the Austrian School of Economics. However, his position as regards entrepreneurship is widely commented on by Austrian School members. In particular, Israel M. Kirzner devoted his research activity to develop an alternative concept of entrepreneurship rooted in Misesian human action and the concept of ‘alertness’. This paper aims to analyze and compare the two positions, in an attempt not so much to stress differences but to find possible common paths for further developments of the concept of entrepreneurship.

Keywords: Schumpeter; Kirzner; Entrepreneur; Entrepreneurship; Innovation; Austrian School of Economics. (search for similar items in EconPapers)
JEL-codes: B13 B25 B53 L26 O31 O33 (search for similar items in EconPapers)
Date: 2015-05-12
New Economics Papers: this item is included in nep-cse, nep-ent, nep-hme, nep-hpe and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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