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Kirznerian Entrepreneurship and The Economics of Science

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  • Butos William N.

    (Trinity College)

  • Boettke Peter J.

    (George Mason University)

Abstract

The paper distinguishes two types of entrepreneurial activity in terms of their institutionally relevant contexts. Type 1 (Kirznerian) entrepreneurship refers to catallactic activity in which coordinating mechanisms, operating via the exchange of property rights, generates market prices. We identify Type 2 entrepreneurship with noncatallactic processes.The paper argues that scientific activity, despite exhibiting characteristics congenial to the economic way of thinking, cannot be generally studied as a catallactic process under prevailing institutional arrangements. Recent changes in the institutional context of science, however, suggest a widening scope for treating science as a market activity.Cet article fait la distinction entre deux types d’activité entrepreneuriale suivant les contextes institutionnels où ils apparaissent. Le premier type (kirznerien) d’activité entrepreneuriale s’inscrit dans un cadre catallactique où les mécanismes de coordination opérant à travers l’échange des droits de propriété génèrent les prix marchands. Le second type d’activité entrepreneuriale que nous identifions relève de processus non catallactiques. L’article soutient que, même si elle présente des caractéristiques qui pourraient relever de la pensée économique, l’activité scientifique telle qu’elle est pratiquée dans les conditions institutionnelles actuelles, ne peut en général pas être étudiée comme un processus catallactique.Cependant, les changements récents dans le contexte institutionnel de la science suggèrent la possibilité grandissante d’envisager la science comme une activité marchande.

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Bibliographic Info

Article provided by De Gruyter in its journal Journal des Economistes et des Etudes Humaines.

Volume (Year): 12 (2002)
Issue (Month): 1 (March)
Pages: 1-14

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Handle: RePEc:bpj:jeehcn:v:12:y:2002:i:1:n:10

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