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A transactional view of entrepreneurship: a Deweyan approach

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  • Elias Khalil

Abstract

Neoclassical and Marxian theorists have generally failed to explain entrepreneurship, and for an obvious reason. To apply the calculus of optimization, neoclassical theorists have to treat the set of resources as an object that exists 'initself,' i.e., independent of the acting subject. On the other hand, Marxian theorists, in advocating the labor theory of value, have to treat labor activity as an expression of an abstract ability which can be easily measured across the diverse concrete activities. John Dewey, throughout his writing stretching over half a century, has undermined the objectivist view of means and of labor activity. Dewey, in fact, objected to the means-end dichotomy. This opens a window for a theory of entrepreneurship.

Suggested Citation

  • Elias Khalil, 2001. "A transactional view of entrepreneurship: a Deweyan approach," Journal of Economic Methodology, Taylor & Francis Journals, vol. 10(2), pages 161-179.
    • Handle: RePEc:taf:jecmet:v:10:y:2001:i:2:p:161-179
    DOI: 10.1080/1350178032000071057
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    References listed on IDEAS

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    1. Khalil, Elias L, 1997. "Buridan's Ass, Risk, Uncertainty, and Self-Competition: A Theory of Entrepreneurship," Kyklos, Wiley Blackwell, vol. 50(2), pages 147-163.
    2. 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.
    3. Elias L. Khalil, 1997. "Buridan's Ass, Risk, Uncertainty, and Self‐Competition: A Theory of Entrepreneurship," Kyklos, Wiley Blackwell, vol. 50(2), pages 147-163, May.
    4. Elias L. Khalil, 1993. "Neo-classical Economics and Neo-Darwinism: Clearing the Way for Historical Thinking," Palgrave Macmillan Books, in: Ron Blackwell & Jaspal Chatha & Edward J. Nell (ed.), Economics as Worldly Philosophy, chapter 3, pages 22-72, Palgrave Macmillan.
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    1. Khalil, Elias L., 2010. "The Bayesian fallacy: Distinguishing internal motivations and religious beliefs from other beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 268-280, August.

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