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Entrepreneurship: State of Grace or Human Action?

Author

Listed:
  • Carmelo Ferlito

    (INTI International College Subang)

Abstract

Joseph A. Schumpeter developed a very well-known theory of entrepreneurs and entrepreneurship, centred on the concept of “new combinations”. According to him, innovation and entrepreneurship are destructive elements driving the system beyond an equilibrium position and setting in motion a competitive process, in order to reach a new equilibrium point. Though Austrian, Schumpeter was never a member of the Austrian School of Economics. However, his position as regards entrepreneurship is widely commented on by Austrian School members. In particular, Israel M. Kirzner devoted his research activity to develop an alternative concept of entrepreneurship rooted in Misesian human action and the concept of “alertness”. This paper aims to analyze and compare the two positions, in an attempt not so much to stress differences but to find possible common paths for further developments of the concept of entrepreneurship. développements ultérieurs du concept d’entrepreneuriat.

Suggested Citation

  • Carmelo Ferlito, 2015. "Entrepreneurship: State of Grace or Human Action?," European Journal of Economic and Social Systems, Lavoisier, vol. 27(1-2), pages 11-36.
    • Handle: RePEc:ris:ejessy:0002
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    Cited by:

    1. 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.
    2. Meacci, Ferdinando & Ferlito, Carmelo, 2018. "The classical roots of the Austrian theory of capital and entrepreneurship," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 31(3), pages 315-339.
    3. Ferlito, Carmelo, 2019. "The Property Market, Affordability and the Malaysian National Housing Policy," EconStor Preprints 197287, ZBW - Leibniz Information Centre for Economics.

    More about this item

    Keywords

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    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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