The Entrepreneur

Richard Cantillon is credited with the discovery of economic theory and was the first to fully consider the critical role of entrepreneurship in the economy.

This paper summarizes and compares the theories of entrepreneurship of Joseph A. Schumpter and Israel M. Kirzner as presented in their major scholarly contributions to economic analysis.

With the failure of central planning, many economists see government as an entrepreneurial institution that fosters efficiency and economic growth,

Volume 6, Number 1 (Fall 1985)

Charles Baird discusses the impact of Government regulation on entrepreneurial discovery.

Professor Spengler refers to Richard Cantillon as the first of the modems. Professor Tarascio presents him from a current perspective.

Peter Klein focuses here on the financial-market entrepreneur — what Rothbard (1962, 1985) calls the capitalist-entrepreneur — to outline some features of an Austrian theory of corporate governance

Mainstream growth theory focuses on the role of inputs and technology, but inputs and technology cannot produce growth without an environment that fosters entrepreneurship. I believe that the application of mainstream growth theory has often been harmful to economic growth because the mainstream theory ignores the market process.

The purpose of this paper is to extend Kirzner’s theory by explicitly introducing the role of space in entrepreneurial alertness and the coordination of markets.

Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation,

This paper enlarges Menger’s theory of the origins of money by making explicit the role of entrepreneurship in the theory and by extending the theory to market institutions other than money.