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Joseph A. Schumpeter developed a very well-known theory of entrepreneurs and entrepreneurship, centred on the concept … Austrian, Schumpeter was never a member of the Austrian School of Economics. However, his position as regards entrepreneurship … of ‘new combinations’. According to him, innovation and entrepreneurship are destructive elements driving the system …
Persistent link: https://www.econbiz.de/10011892402
The conventional version of Austrian business cycle theory focuses on a temporary imbalance between natural and monetary rates of interest. When, because of the role of monetary authorities in defining the monetary rate, the two values are in a situation of imbalance, the resulting expansion...
Persistent link: https://www.econbiz.de/10010795046
with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of … and Böhm-Bawerk, on the one hand, and the theory of entrepreneurship as developed by the neo-Austrians, on the other. …
Persistent link: https://www.econbiz.de/10011895094
innovation bloc into their study of spontaneous market order. We demonstrate how successful entrepreneurship depends on an …
Persistent link: https://www.econbiz.de/10011868369
persuasive, especially regarding policy prescriptions. At the heart of this perspective is the idea that entrepreneurship, when …
Persistent link: https://www.econbiz.de/10012021764
This introduction outlines some key aspects of an Austrian perspective on innovation, which is viewed as an ongoing, dynamic process in which entrepreneurs combine heterogeneous capital resources in new ways order to develop and deploy new technologies, products, and methods of business...
Persistent link: https://www.econbiz.de/10014100292
Persistent link: https://www.econbiz.de/10012036239
The conventional version of Austrian business cycle theory focuses on a temporary imbalance between natural and monetary rates of interest. When, because of the role of monetary authorities in defining the monetary rate, the two values are in a situation of imbalance, the resulting expansion...
Persistent link: https://www.econbiz.de/10013015512
In the first chapter I present my point of view that Menger's theoretical approach may more properly be called relationism, rather than objectivism or subjectivism. In the second chapter I present the thoughts presented in Carl Menger's Principles of Economics in an axiomatic way. The purpose is...
Persistent link: https://www.econbiz.de/10012941635
Austrian economist Ludwig Mises’s central role in the socialist calculation debates has been consensually acknowledged since the early 1920s. Yet, only recently, Nemeth, O’Neill, Uebel, and others have drawn particular attention to Mises’s pertinent encounter with one of the most colorful...
Persistent link: https://www.econbiz.de/10012607642