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Teorie podnikatelského objevování
[Theory of entrepreneurial discovery]

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  • Tomáš Otáhal

Abstract

The aim of the paper is to introduce Kirzner's theory of entrepreneurial discovery as a complement and an alternative to the mainstream theory. In the first and the second sections, the author explains the main influences of Ludwig von Mises and Friedrich August von Hayek's works on entrepreneurial theory. Section three analyzes pure entrepreneurial profit and logical construction of theory as a complement to mainstream theory. To introduce the entrepreneurial market process as an alternative to mainstream theory, the fourth section begins by explaining Kirzner's approach to the critique of the possibilities for economic calculation in the system of public ownership of the means of production and his theory of monopoly. The last section is a conclusion.

Suggested Citation

  • Tomáš Otáhal, 2008. "Teorie podnikatelského objevování [Theory of entrepreneurial discovery]," Politická ekonomie, Prague University of Economics and Business, vol. 2008(5), pages 669-683.
    • Handle: RePEc:prg:jnlpol:v:2008:y:2008:i:5:id:658:p:669-683
    DOI: 10.18267/j.polek.658
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    References listed on IDEAS

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    1. Israel Kirzner, 1999. "Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1), pages 5-17, January.
    2. Oskar Lange, 1937. "On the Economic Theory of Socialism: Part Two," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 4(2), pages 123-142.
    3. 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.
    4. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    5. Kirzner, Israel M, 1999. "Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1-2), pages 5-17.
    6. Israel M. Kirzner, 2005. "Human Attitudes and Economic Growth," Cato Journal, Cato Journal, Cato Institute, vol. 25(3), pages 465-469, Fall.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    knowledge; equilibrium; entrepreneur; discovery; Action; alertness; competition process;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform

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