Download this Paper Open PDF in Browser

Austrian Economics and the Study of Entrepreneurship: Concepts and Contributions

30 Pages Posted: 5 Mar 2009 Last revised: 30 Jun 2009

Henrik Berglund

Chalmers University of Technology

Date Written: March 1, 2009

Abstract

Entrepreneurship researcher’s growing interest in Austrian economics has not been matched by systematic efforts to tease out and incorporate this tradition's basic ideas. To remedy this situation, this paper introduces the Austrian market-process tradition and also compares it to the equilibrium-focused neoclassical tradition. Taking this contrast as point of departure, we reexamine three central questions in the field of entrepreneurship studies: Who is an entrepreneur?, What is an opportunity?, and What is the role of planning? Based on the answers to these specific questions, the paper concludes with a broader discussion of how Austrian concepts can contribute to the theoretical and methodological development of entrepreneurship studies writ large.

Keywords: Austrian economics, equilibrium, entrepreneurship, opportunity, planning

JEL Classification: M13, B21, O31

Suggested Citation

Berglund, Henrik, Austrian Economics and the Study of Entrepreneurship: Concepts and Contributions (March 1, 2009). Available at SSRN: https://ssrn.com/abstract=1353902 or http://dx.doi.org/10.2139/ssrn.1353902

Henrik Berglund (Contact Author)

Chalmers University of Technology ( email )

SE-412 96 Goteborg
Sweden

Paper statistics

Downloads
217
Rank
118,734
Abstract Views
1,106