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Deirdre Mccloskey, Kirznerian Growth and The Role of Social Networks


  • Vincent Geloso


This article expands on the view of Deirdre McCloskey that the economic growth of the Western world since the end of the eighteenth century can be explained by the process of entrepreneurial change as expounded by Israel Kirzner. This article argues that while Kirzner's approach to economic development is indeed fruitful, it should be augmented through the study of social networks, which McCloskey has largely ignored. When social networks are seen in the light of the Kirznerian process of entrepreneurship, they represent an important institution that relays information about the proper identification and perception of opportunities.

Suggested Citation

  • Vincent Geloso, 2015. "Deirdre Mccloskey, Kirznerian Growth and The Role of Social Networks," Economic Affairs, Wiley Blackwell, vol. 35(3), pages 453-463, October.
  • Handle: RePEc:bla:ecaffa:v:35:y:2015:i:3:p:453-463

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    References listed on IDEAS

    1. Leonard Dudley, 2008. "Information Revolutions in the History of the West," Books, Edward Elgar Publishing, number 13064, June.
    2. Dorian Gerhold, 2014. "The development of stage coaching and the impact of turnpike roads, 1653–1840," Economic History Review, Economic History Society, vol. 67(3), pages 818-845, August.
    3. Raskov, Danila & Kufenko, Vadim, 2014. "The role of Old Believers' enterprises: Evidence from the nineteenth century Moscow textile industry," Violette Reihe: Schriftenreihe des Promotionsschwerpunkts "Globalisierung und Beschäftigung" 40/2014, University of Hohenheim, Carl von Ossietzky University Oldenburg, Evangelisches Studienwerk.
    4. Kaukiainen, Yrj, 2001. "Shrinking the world: Improvements in the speed of information transmission, c. 1820 1870," European Review of Economic History, Cambridge University Press, vol. 5(01), pages 1-28, April.
    5. Williamson, Claudia R., 2012. "Dignity and development," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 763-771.
    6. Emily Chamlee-Wright, 2014. "Capitalist spirits and connection to place," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(4), pages 473-481, December.
    7. Deirdre McCloskey, 2014. "Getting beyond neo-institutionalism: Virgil Storr’s culture of markets," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(4), pages 463-472, December.
    8. Virgil Storr, 2014. "Why culture in economics?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(4), pages 495-503, December.
    9. Mark Dodgson, 2011. "Exploring new combinations in innovation and entrepreneurship: social networks, Schumpeter, and the case of Josiah Wedgwood (1730--1795)," Industrial and Corporate Change, Oxford University Press, vol. 20(4), pages 1119-1151, August.
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    Cited by:

    1. Mikayla Novak, 2016. "Deirdre Mccloskey, Kirznerian Growth and the Role of Social Networks: Comment," Economic Affairs, Wiley Blackwell, vol. 36(2), pages 217-220, June.

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