Entrepreneurship and Economic Development: Austrian and New Institutional Approaches

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F08%3A00124078" target="_blank" >RIV/62156489:43110/08:00124078 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Entrepreneurship and Economic Development: Austrian and New Institutional Approaches

Original language description

The paper focuses on entrepreneurship as an essential cause of economic development. It attempts to find differences and logical connection between the Austrian and New Institutional view. The first section starts with an explanation of the influence ofLudwig von Mises and Friedrich August von Hayek on the view of the entrepreneurial activity presented by Israel M. Kirzner. As a unique Austrian, Joseph A. Schumpeter is considered, whose innovative and creatively destructive entrepreneurial activity isexplained. It is argued that alert and creative entrepreneurial activities are interrelated, because both imply autonomous decision-making. The second section is dedicated to the New Institutional view of entrepreneurship starting with an explanation ofFrank Knight's arguments. Since Ronald Coase sees an entrepreneur as the entrepreneur-coordinator of the production process the calculation of transaction cost is his responsibility. The entrepreneur reduces uncertainty by adapting himsel

Czech name

Podnikání a ekonomický rozvoj - rakouský a nový institucionální pohled

Czech description

Podnikání a ekonomický rozvoj - rakouský a nový institucionální pohled

Type

A - Audiovisual production

CEP classification

AH - Economics

OECD FORD branch

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Project

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Continuities

Z - Vyzkumny zamer (s odkazem do CEZ)

Publication year

2008

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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