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Alertness

Author

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  • François Facchini

    (UP1 UFR02 - Université Paris 1 Panthéon-Sorbonne - École d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

"Now I choose to label that element of alertness to possibly newly worthwhile goals and to possibly newly available resources the entrepreneurial element in humain decision-making. It is this entrepreneurial element that is responsible for our understanding of human action as active, creative, and human rather than as passive, automatic, and mechanical. Once the entrepreneurial element in human action is perceived, one can no longer interpret the decision as merely calculative. One must now recognize that the human decision cannot be explained purely in terms of maximization of passive reaction that takes the form of adopting the best course of action as marked out by the circonstances" (Kirzner 1973, p.35). Kirzner, Israel M., Competition & Entrepreneurship, The University of Chicago Press.

Suggested Citation

  • François Facchini, 2011. "Alertness," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-05092449, HAL.
    • Handle: RePEc:hal:cesptp:hal-05092449
    Note: View the original document on HAL open archive server: https://hal.science/hal-05092449v1
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