Entrepreneurship and Equilibrium
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| Format: | Artículo científico |
| Sprache: | en |
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Instituto Mises Brasil
2021
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| _version_ | 1876465996734136320 |
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| author | Ying Tang |
| author_facet | Ying Tang |
| contents | Entrepreneurship and Equilibrium Ying Tang Walter E. Block David Gordon Multidisciplinarias (Ciencias Sociales) praxeology equilibrium Market process entrepreneurship Evenly Rotating Economy Neoclassic economic theory regards equilibrium, whether general or partial, as a crucially important foundation of the dismal science. In the view of mainstream economists, the general equilibrium framework offers not only an investigation of the economy in terms of its perfect qualities, but is also suitable as an end or goal of action. In contrast, the Austrian school sees equilibrium (or the evenly rotating economy - ERE) merely as a direction towards which economic activities tend to move, but that is never attained. Praxeological economics has thus concentrated not on equilibrium, but on the market process towards it. Since the process of shifting resources to meet these ends cannot be achieved spontaneously, entrepreneurship plays a key role. In Mises' and Rothbard's view, entrepreneurship involves uncertainty bearing, going beyond the alertness Hayek and Kirzner emphasize. On the other hand, unlike Lachmann, who looks at the economy as a kaleidoscope and rejects the ERE, Mises and Rothbard regard it as an indispensable tool in understanding the economy. 2021 artículo científico 2318-0811 https://www.redalyc.org/articulo.oa?id=586370158018 https://www.redalyc.org/journal/5863/586370158018/ https://www.redalyc.org/journal/5863/586370158018/html/ https://www.redalyc.org/journal/5863/586370158018/586370158018.epub https://www.redalyc.org/journal/5863/586370158018/movil 10.30800/mises.2021.v9.1395 en http://www.redalyc.org/revista.oa?id=5863 MISES: Interdisciplinary Journal of Philosophy, Law and Economics application/pdf Instituto Mises Brasil MISES: Interdisciplinary Journal of Philosophy, Law and Economics (Brasil) Vol.9 |
| format | Artículo científico |
| id | redalyc_586370158018 |
| institution | Redalyc |
| language | en |
| publishDate | 2021 |
| publisher | Instituto Mises Brasil |
| spellingShingle | Entrepreneurship and Equilibrium Ying Tang Multidisciplinarias (Ciencias Sociales) praxeology equilibrium Market process entrepreneurship Evenly Rotating Economy Entrepreneurship and Equilibrium Ying Tang Walter E. Block David Gordon Multidisciplinarias (Ciencias Sociales) praxeology equilibrium Market process entrepreneurship Evenly Rotating Economy Neoclassic economic theory regards equilibrium, whether general or partial, as a crucially important foundation of the dismal science. In the view of mainstream economists, the general equilibrium framework offers not only an investigation of the economy in terms of its perfect qualities, but is also suitable as an end or goal of action. In contrast, the Austrian school sees equilibrium (or the evenly rotating economy - ERE) merely as a direction towards which economic activities tend to move, but that is never attained. Praxeological economics has thus concentrated not on equilibrium, but on the market process towards it. Since the process of shifting resources to meet these ends cannot be achieved spontaneously, entrepreneurship plays a key role. In Mises' and Rothbard's view, entrepreneurship involves uncertainty bearing, going beyond the alertness Hayek and Kirzner emphasize. On the other hand, unlike Lachmann, who looks at the economy as a kaleidoscope and rejects the ERE, Mises and Rothbard regard it as an indispensable tool in understanding the economy. 2021 artículo científico 2318-0811 https://www.redalyc.org/articulo.oa?id=586370158018 https://www.redalyc.org/journal/5863/586370158018/ https://www.redalyc.org/journal/5863/586370158018/html/ https://www.redalyc.org/journal/5863/586370158018/586370158018.epub https://www.redalyc.org/journal/5863/586370158018/movil 10.30800/mises.2021.v9.1395 en http://www.redalyc.org/revista.oa?id=5863 MISES: Interdisciplinary Journal of Philosophy, Law and Economics application/pdf Instituto Mises Brasil MISES: Interdisciplinary Journal of Philosophy, Law and Economics (Brasil) Vol.9 |
| title | Entrepreneurship and Equilibrium |
| topic | Multidisciplinarias (Ciencias Sociales) praxeology equilibrium Market process entrepreneurship Evenly Rotating Economy |
| url | https://www.redalyc.org/articulo.oa?id=586370158018 https://www.redalyc.org/journal/5863/586370158018/ https://www.redalyc.org/journal/5863/586370158018/html/ https://www.redalyc.org/journal/5863/586370158018/586370158018.epub https://www.redalyc.org/journal/5863/586370158018/movil |