Theories of Entrepreneurship

Bob Wenzel of Economic Policy Journal and I have been having a spirited debate on alternative accounts of the entrepreneurial function, with Bob defending Israel Kirzner’s concept of entrepreneurship as alertness to profit opportunities, and me favoring the view of Frank Knight, Ludwig von Mises, and myself (among others) that sees entrepreneurship as judgmental decision-making under uncertainty.

If you want to follow along in order, the posts here here:

This is not a scholarly debate filling the pages of peer-reviewed academic journals, but a lively and rapid-fire exchange of views in the blogosphere, so caveat emptor.

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