IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2004y2004i2id459.html
   My bibliography  Save this article

Podnikatelství a konkurenční tržní proces v Rakouské škole a v díle J. A. Schumpetera
[Entrepreneurship and the competitive market process in the Austrian school of economics and in the work of J. A. Schumpeter]

Author

Listed:
  • Milan Říkovský

Abstract

The aim of this paper is to introduce the market process as a central concept of Austrian economics as opposed to the general-equilibrium approach of the neoclassical school. In the first part the author shortly reviews the theme of entrepreneur and understanding of entrepreneurial function in the history of economic thought. In the second chapter the formation of the Austrian view of the market as an entrepreneurially driven process and simultaneous emergence of criticism of mainstream theory is explained. The chapter three describes the Austrian understanding of the market process based upon twin concepts of sheer ignorance and entrepreneurial discovery. The last chapter introduces the entrepreneurial market process theory of Schumpeter. Schumpeter's theory is subsequently compared with Kirzner's approach. The author also surveys and compares modern discussions about market process within the Austrian school of economics.

Suggested Citation

  • Milan Říkovský, 2004. "Podnikatelství a konkurenční tržní proces v Rakouské škole a v díle J. A. Schumpetera [Entrepreneurship and the competitive market process in the Austrian school of economics and in the work of J. ," Politická ekonomie, Prague University of Economics and Business, vol. 2004(2), pages 165-189.
    • Handle: RePEc:prg:jnlpol:v:2004:y:2004:i:2:id:459
    DOI: 10.18267/j.polek.459
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.459.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.459.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.459?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Lachmann, Ludwig M, 1976. "From Mises to Shackle: An Essay on Austrian Economics and the Kaleidic Society," Journal of Economic Literature, American Economic Association, vol. 14(1), pages 54-62, March.
    2. Salerno, Joseph T, 1993. "Mises and Hayek Dehomogenized: Review Essay," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 6(2), pages 113-146.
    3. Israel M. Kirzner & Comment by Gordon Tullock, 1999. "Mises and His Understanding of the Capitalist System," Cato Journal, Cato Journal, Cato Institute, vol. 19(2), pages 215-232, Fall.
    4. Peter J. Boettke & David L. Prychitko (ed.), 1994. "The Market Process," Books, Edward Elgar Publishing, number 54.
    5. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    6. Herbener, Jeffrey M, 1992. "The Role of Entrepreneurship in Desocialization," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 6(1), pages 79-93.
    7. Sheila C. Dow, 1996. "The Methodology of Macroeconomic Thought," Books, Edward Elgar Publishing, number 933.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David Dequech, 2008. "Varieties of uncertainty: a survey of the economic literature," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211223070, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. Peter Klein & Per Bylund, 2014. "The place of Austrian economics in contemporary entrepreneurship research," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(3), pages 259-279, September.
    3. Jones, Raymond J. & Barnir, Anat, 2019. "Properties of opportunity creation and discovery: Comparing variation in contexts of innovativeness," Technovation, Elsevier, vol. 79(C), pages 1-10.
    4. Marek Hudik, 0. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 0, pages 1-20.
    5. Mario Rizzo, 2013. "Foundations of The Economics of Time and Ignorance," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(1), pages 45-52, March.
    6. Michael Litschka & Kristoffel Grechenig, 2010. "Law by human intent or evolution? Some remarks on the Austrian school of economics’ role in the development of law and economics," European Journal of Law and Economics, Springer, vol. 29(1), pages 57-79, February.
    7. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, September.
    8. Darcy W.E. Allen, 2019. "Governing the entrepreneurial discovery of blockchain applications," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 194-212, October.
    9. Marek Hudik, 2020. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 89(3), pages 349-368, October.
    10. Matthew McCaffrey & Nicolai J. Foss & Peter G. Klein & Joseph T. Salerno, 2023. "Breaking out of the Kirznerian box: A reply to Sautet," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 36(3), pages 1-21, September.
    11. Robin Douhan & Gunnar Eliasson & Magnus Henrekson, 2007. "Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship," Small Business Economics, Springer, vol. 29(1), pages 213-223, June.
    12. Trofimov, Ivan D., 2017. "International policy entrepreneurship and production of international public goods: the case of multilateral trade regime," MPRA Paper 80819, University Library of Munich, Germany.
    13. Trofimov, Ivan, 2017. "Entrepreneurship and policy dynamics: a theoretical framework," MPRA Paper 79497, University Library of Munich, Germany.
    14. Bryan Caplan, 1999. "The Austrian Search for Realistic Foundations," Southern Economic Journal, John Wiley & Sons, vol. 65(4), pages 823-838, April.
    15. Manuel Oyson & Hugh Whittaker, 2015. "Entrepreneurial cognition and behavior in the discovery and creation of international opportunities," Journal of International Entrepreneurship, Springer, vol. 13(3), pages 303-336, September.
    16. Leonid Krasnozhon & John Levendis, 2015. "Mises and prediction markets: Can markets forecast?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(1), pages 41-52, March.
    17. Ferlito, Carmelo, 2014. "Ludwig M. Lachmann Against the Cambridge School. Macroeconomics, Microfoundations, Expectations, Rate of Profit, Equilibrium and Innovations," MPRA Paper 67709, University Library of Munich, Germany, revised 22 Jan 2015.
    18. C. Mantzavinos, 2006. "The institutional-evolutionary antitrust model," European Journal of Law and Economics, Springer, vol. 22(3), pages 273-291, November.
    19. Loïc Sauce, 2017. "Market process(es) and (un)knowledge," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(3), pages 305-321, September.
    20. Jeffrey E. Haymond & Whitton A. Rice, 2022. "Lean Startup: A Bridge between Austrian Views of Entrepreneurship," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 37(Winter 20), pages 61-76.

    More about this item

    Keywords

    competition; Austrian school; knowledge; equilibrium; disequilibrium; entrepreneur; information; market process; discovery;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2004:y:2004:i:2:id:459. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.