Jun 2, 2012

Alertness or creativity, or both

I read today this article by Israel Kirzner (1999) which compares the Kirzner "alertness" conception of the entrepreneur with the Schumpeterian, creative-destruction, conception. 

Some argue that both conceptions are opposites (that Kirzner see the entrepreneur as the one who leads the market towards equilibrium, and the Schumpeterian entrepreneur as the one who introduces disruption and destruction); others see both conceptions as complements. 

Kirzner does not see any contradiction and concludes that the Schumpeterian entrepreneur can be seen as an equilibrating agent as well. 

It is a recommended reading for those who want to understand the philosophical underpinnings of entrepreneurship. 

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