Hülsmann have written thoughtful comments on my article, “Entrepreneurship and EconomicGrowth” (1998). In some places, I agree with them but believe clarification is
historians, the paper considers the origins of three institutions that underlie economicgrowth—the division of labor, monetary accounting, and private property. Menger’s
Volume 10, No. 2 (Summer 2007) In his book The Theory of Economic Development, Schumpeter (1934) pointed out that entrepreneurs are prime hero whose creativity invigorates the economy with new ideas that lead to economicgrowth. But less imaginative entrepreneurs can also play an important role. They can
No. 4 (Winter 2013) ABSTRACT : Richard Cantillon is credited with the discovery of economic theory and was the first to fully consider the critical role of While most scholars recognize that entrepreneurship is the driver of economicgrowth and progress (Bosma, Wennekers & Amorós, 2011), Holcombe (2007) points out
plays a significant role in augmenting individual lifestyles and, thus, total economic development. JEL Classification: B53, L26, D10, D13 Mark Packard we gain a much more complete picture of economic phenomena, including economicgrowth and change. Fundamentals of the Autarkic Economy Before advancing the question
recognized over the past few decades that entrepreneurship is the engine of economic change, the generator of economicgrowth, and the main cause of job creation. Consequently, policy is often used in
and more economists have advanced the idea that significant obstacles impeding economicgrowth (especially in less developed regions) consist in different market failures,
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.