Monday, October 14, 2013

The Economics of Enterprise and Entrepreneurship

Richard Ebeling emails:

Dear Bob,

I've written a piece on,  "Herbert Davenport's Economics of Enterprise and Entrepreneurship: A Centenary Appreciation."

Herbert Davenport was one of the leading "Austrian"-oriented American economists in the years before and after the First World War. His "Economics of Enterprise" was published one hundred years ago, this year.

It brought together his strongly methodological individualist and subjectivist approach to human decision-making, the theory of cost, and the pivotal role of the entrepreneur for understanding the dynamics of the competitive market process.

And it represents the  type of economic theory that "might-have-been" from a Austrian-oriented perspective, if the economics profession had not chosen the Walrasian-Paretian general equilibrium path over the last 100 years.

I thought you might find it of interest.


The article is here.

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