Quarterly Journal of Austrian Economics
Author:
Scott Burns
Caleb Fuller
Online Publish Date:
entrepreneur has generated a flurry of literature attempting to demonstrate that “innovation” (Schumpeter 1934), “alertness” (Kirzner 1973; Sautet 2018), “judgement” theory,” he argued, “is simply an inappropriate tool to analyze and prescribe policies that will induce development.” North even acknowledges that one of the goals how entrepreneurs shift activity between institutional “levels” when government policy reduces the profitability of acting on one level relative to others. The