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Kirzner and Rothbard on an Austrian theory of entrepreneurship: the heirs of both Menger and Mises discuss action and the role of institutions

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Abstract

This paper is the last part of a trilogy on the theory and history of entrepreneurship in Austrian school of economics. The triptych ends with contemporary members by comparing Israel Kirzner and Murray Rothbard. The migration of the Austrian school induced a new assessment of Austrian traits in a new setting. While we do not focus on the history of the Austrian school in America as such, we will stress how Kirzner focused his view of entrepreneurship on the concepts of alertness, discovery by opportunity and the equilibrating action of the entrepreneur – while Rothbard’s contribution was more ideologically engaged.

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  • Gilles Campagnolo & Christel Vivel, 2021. "Kirzner and Rothbard on an Austrian theory of entrepreneurship: the heirs of both Menger and Mises discuss action and the role of institutions," AMSE Working Papers 2103, Aix-Marseille School of Economics, France.
    • Handle: RePEc:aim:wpaimx:2103
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    1. Gilles Campagnolo & Christel Vivel, 2011. "Power And Entrepreneurship In German Political Economy: The Cases Of Werner Sombart And Friedrich Von Wieser," ICER Working Papers 11-2011, ICER - International Centre for Economic Research.
    2. Gilles Campagnolo, 2014. "Les Recherches sur la méthode de Carl Menger : l’individualisme méthodologique contre les robinsonnades ?," Post-Print hal-01474276, HAL.
    3. Peter J. Boettke & David L. Prychitko (ed.), 1994. "The Market Process," Books, Edward Elgar Publishing, number 54.
    4. Gilles Campagnolo & Christel Vivel, 2012. "Before Schumpeter: forerunners of the theory of the entrepreneur in 1900s German political economy -- Werner Sombart, Friedrich von Wieser," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(6), pages 908-943, December.
    5. Bruce J. Caldwell, 1984. "Praxeology and its Critics: an Appraisal," History of Political Economy, Duke University Press, vol. 16(3), pages 363-379, Fall.
    6. Vaughn,Karen I., 1994. "Austrian Economics in America," Cambridge Books, Cambridge University Press, number 9780521445528, October.
    7. Gilles Campagnolo, 2018. "Self-Realization of the Economic Agent," Post-Print hal-01897846, HAL.
    8. Gilles Campagnolo, 2016. "Carl Menger," Post-Print hal-01477195, HAL.
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    Keywords

    Austrian School of Economics; entrepreneurship; institutions; Kirzner (Israel); methodology; Rothbard (Murray);
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