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

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  • Thierry Aimar

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.

Suggested Citation

  • Thierry Aimar, 2021. "Discovery or ownership? A new light on an Austrian controversy over entrepreneurship," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 45(4), pages 811-832.
    • Handle: RePEc:oup:cambje:v:45:y:2021:i:4:p:811-832.
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    File URL: http://hdl.handle.net/10.1093/cje/beab001
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