IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2004y2004i2id459.html
   My bibliography  Save this article

Podnikatelství a konkurenční tržní proces v Rakouské škole a v díle J. A. Schumpetera
[Entrepreneurship and the competitive market process in the Austrian school of economics and in the work of J. A. Schumpeter]

Author

Listed:
  • Milan Říkovský

Abstract

The aim of this paper is to introduce the market process as a central concept of Austrian economics as opposed to the general-equilibrium approach of the neoclassical school. In the first part the author shortly reviews the theme of entrepreneur and understanding of entrepreneurial function in the history of economic thought. In the second chapter the formation of the Austrian view of the market as an entrepreneurially driven process and simultaneous emergence of criticism of mainstream theory is explained. The chapter three describes the Austrian understanding of the market process based upon twin concepts of sheer ignorance and entrepreneurial discovery. The last chapter introduces the entrepreneurial market process theory of Schumpeter. Schumpeter's theory is subsequently compared with Kirzner's approach. The author also surveys and compares modern discussions about market process within the Austrian school of economics.

Suggested Citation

  • Milan Říkovský, 2004. "Podnikatelství a konkurenční tržní proces v Rakouské škole a v díle J. A. Schumpetera [Entrepreneurship and the competitive market process in the Austrian school of economics and in the work of J. ," Politická ekonomie, Prague University of Economics and Business, vol. 2004(2), pages 165-189.
    • Handle: RePEc:prg:jnlpol:v:2004:y:2004:i:2:id:459
    DOI: 10.18267/j.polek.459
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.459.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.459.pdf
    Download Restriction: free of charge

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Israel M. Kirzner & Comment by Gordon Tullock, 1999. "Mises and His Understanding of the Capitalist System," Cato Journal, Cato Journal, Cato Institute, vol. 19(2), pages 215-232, Fall.
    2. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    3. 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.
    4. Salerno, Joseph T, 1993. "Mises and Hayek Dehomogenized: Review Essay," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 6(2), pages 113-146.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peter Klein & Per Bylund, 2014. "The place of Austrian economics in contemporary entrepreneurship research," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(3), pages 259-279, September.
    2. Loïc Sauce, 2017. "Market process(es) and (un)knowledge," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(3), pages 305-321, September.
    3. Jones, Raymond J. & Barnir, Anat, 2019. "Properties of opportunity creation and discovery: Comparing variation in contexts of innovativeness," Technovation, Elsevier, vol. 79(C), pages 1-10.
    4. Ferlito, Carmelo, 2015. "Ludwig M. Lachmann contro la Scuola di Cambridge [Ludwig M. Lachmann against the Cambridge School]," MPRA Paper 67759, University Library of Munich, Germany.
    5. Mantzavinos C., 2005. "Das institutionenökonomisch-evolutionäre Wettbewerbsleitbild / Competition Policy from an Institutional-Evolutionary Perspective," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 225(2), pages 205-224, April.
    6. Marco, Passarella & Hervé, Baron, 2010. "Concorrenza senza equilibrio. La "scoperta imprenditoriale" nella Teoria Economica Austriaca [Competition without equilibrium. The 'entrepreneurial discovery' in Austrian Economic Theory]," MPRA Paper 28505, University Library of Munich, Germany.
    7. Berg, Nathan, 2014. "Success from satisficing and imitation: Entrepreneurs' location choice and implications of heuristics for local economic development," Journal of Business Research, Elsevier, vol. 67(8), pages 1700-1709.
    8. Robin Douhan & Gunnar Eliasson & Magnus Henrekson, 2007. "Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship," Small Business Economics, Springer, vol. 29(1), pages 213-223, June.
    9. Foss, Nicolai J. & Klein, Peter G. & Kor, Yasemin Y. & Mahoney, Joseph T., 2006. "Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis," Working Papers 06-0121, University of Illinois at Urbana-Champaign, College of Business.
    10. Ladislava Grochová & Tomáš Otáhal, 2010. "Podnikání a ekonomický rozvoj: jaký je rozdíl mezi neorakouskou a novou institucionální ekonomií? [Entrepreneurship and Economic Development: What is the Difference Between Austrian and New Institu," Politická ekonomie, Prague University of Economics and Business, vol. 2010(5), pages 623-640.
    11. Manuel Oyson & Hugh Whittaker, 2015. "Entrepreneurial cognition and behavior in the discovery and creation of international opportunities," Journal of International Entrepreneurship, Springer, vol. 13(3), pages 303-336, September.
    12. Chrysostomos Mantzavinos, 2004. "The Institutional-Evolutionary Antitrust Model," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2004_1a, Max Planck Institute for Research on Collective Goods.
    13. Robert Mulligan, 2006. "Accounting for the business cycle: Nominal rigidities, factor heterogeneity, and Austrian capital theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 19(4), pages 311-336, December.
    14. Ferlito, Carmelo, 2014. "Ludwig M. Lachmann Against the Cambridge School. Macroeconomics, Microfoundations, Expectations, Rate of Profit, Equilibrium and Innovations," MPRA Paper 67709, University Library of Munich, Germany, revised 22 Jan 2015.
    15. C. Mantzavinos, 2006. "The institutional-evolutionary antitrust model," European Journal of Law and Economics, Springer, vol. 22(3), pages 273-291, November.
    16. Caldwell, Bruce, 2014. "George Soros: Hayekian?," LSE Research Online Documents on Economics 65470, London School of Economics and Political Science, LSE Library.
    17. Ufuk Akcigit & Murat Celik & Daron Acemoglu, 2014. "Young, Restless and Creative: Openness to Disruption and Creative Innovations," 2014 Meeting Papers 377, Society for Economic Dynamics.
    18. Calcagno, Peter T. & Hall, Joshua C. & Lawson, Robert A., 2010. "Objectivism versus subjectivism: A market test," Journal of Economic Behavior & Organization, Elsevier, vol. 76(2), pages 445-448, November.
    19. Oasis Kodila-Tedika & Julius Agbor, 2016. "Does Trust Matter for Entrepreneurship: Evidence from a Cross-Section of Countries," Economies, MDPI, Open Access Journal, vol. 4(1), pages 1-1, March.
    20. Foss Kirsten & Foss Nicolai & Klein Peter G. & Klein Sandra K., 2002. "Heterogeneous Capital, Entrepreneurship, and Economic Organization," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 12(1), pages 1-20, March.

    More about this item

    Keywords

    competition; Austrian school; knowledge; equilibrium; disequilibrium; entrepreneur; information; market process; discovery;

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2004:y:2004:i:2:id:459. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stanislav Vojir). General contact details of provider: http://edirc.repec.org/data/uevsecz.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.