Entrepreneurship and Development: Cause or Consequence?
Advances in Austrian Economics, Vol. 6, pp. 67-88, 2003
25 Pages Posted: 10 Mar 2006 Last revised: 27 Feb 2012
Date Written: November 1, 2010
This paper discusses the inherent tension in the notion of entrepreneurship as developed by Ludwig von Mises and Israel Kirzner. Given that entrepreneurship is an omnipresent aspect of human action, it cannot also be the "cause" of economic development. Rather, for economic development to take place, certain institutions must be present in order for the entrepreneurial a spect of human action to flourish. After further developing this theoretical insight, an in-depth analysis of the institutions necessary for entrepreneurship are considered.
Keywords: Economic Development, Austrian Economics, Entrepreneurship
JEL Classification: O10, B53, M13
Suggested Citation: Suggested Citation