Handbook on Contemporary Austrian Economics

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106 <strong>Handbook</strong> on contemporary Austrian economics It is quite another thing to say that the market does not even harbor equilibrating tendencies. " 31 . As Mises (1966, p. 392) put it: "What is called a price is always a relationship within an integrated system which is the composite effect of human relations." 32. For a development of this idea, see Kirzner (2000a) and Sautet (2007). 33. In addition to alienability, an important aspect of property rights for entrepreneurial discovery is divisibility. Entrepreneurs may find new ways to allocate resources by dividing existing property rights in new ways. 34. For a discussion of entrepreneurship and institutions, see Harper (2003), Chapters 4 and 5. 35. See also Ikeda (1996) and Kirzner ([ 1978] 1985) for detailed analysis of interventionism and the market process. 36. Mises held the view that monopoly pricing could, in some very rare cases, emerge in the unhampered market. For a detailed presentation of his view, see Kirzner (2001). See Rothbard (1993) for a critique of Mises' view. See also Sautet (2002). 37. For more on the issue, for instance, see Sautet (2007). 38. See Baumol (1990) for a discussion of the impact of institutions on entrepreneurship. References Arrow, Kenneth (1994) "Methodological Individualism and Social Knowledge," The American Economic Review, 84(2), 1-9. Baumol, William (1990) "Entrepreneurship: Productive, Unproductive, and Destructive," The Journal of Political Economy, 98(5), 893- 921. Baumol, William (2002) The Free-market Innovation Machine: Analyzing the Growth Miracle of Capitalism, Princeton: Princeton University Press. Boettke, Peter (1997) "Where Did Economics Go Wrong Modern Economics as a Flight from Reality," Critical Review, 11(1), 11-64. Boettke, Peter and Frederic Sautet (2009) "Introduction to the Liberty Fund Edition," in Israel M. Kirzner The Economic Point of View: An Essay in the History of Economic Thought, Indianapolis: Liberty Fund. Carlaw, Kenneth t , Leslie T. Oxley, Paul Walker, David Thorns and Michael Nuth (2006) "Beyond the Hype: Intellectual Property and the Knowledge Society/Knowledge Economy," Journal of Economic Surveys, 20(4), 643- 90. Fisher, Franklin (1989) Disequilibrium Foundations of Equilibrium Economics, Cambridge: Cambridge University Press. Harper, David (2003) Foundations of Entrepreneurship and Economic Development, London: Routledge. Hayek, Friedrich A. (1945) "The Use of Knowledge in Society," reprinted in Friedrich A. Hayek (1948) Individualism and Economic Order, Chicago: University of Chicago Press. Hayek, Friedrich A. (1946) "The Meaning of Competition," reprinted in Friedrich A. Hayek (1948) Individualism and Economic Order, Chicago: University of Chicago Press. Hayek, Friedrich A. (1978) "Competition as a Discovery Procedure," in New Studies in Philosophy. Politics. Economics. and the History of Ideas, London: Routledge. High, Jack (1982) "Alertness and Judgment: Comment on Kirzner," in Israel M. Kirzner (ed.) Method, Process, and Austrian Economics: Essays in Honor of Ludwig von Mises, Lexington, MA: D.C. Heath and Company, pp. 161-8. Ikeda, Sanford (1996) Dynamics of the Mixed Economy: Towards a Theory of Interventionism, London: Routledge. Kirzner, Israel M. (1973) Competition and Entrepreneurship, Chicago: University of Chicago Press. Kirzner, Israel M. [1978] (1985) "The Perils of Regulation," reprinted in Israel Kirzner Discovery and the Capitalist Process, Chicago: University of Chicago Press. Kirzner, Israel M. (1979) Perception, Opportunity, and Profit: Studies in the Theory of Entrepreneurship, Chicago: University of Chicago Press. ,
The competitive market is a process of entrepreneurial discovery 107 Kirzner, Israel M. (1984) "Economic Planning and the Knowledge Problem," CATO Journal, 4(2),407- 18. Kirzner, Israel M. (1994) "Entrepreneurship," in Peter Boettke (ed.) The Elgar Companion to Austrian Economics, A1dershot, UK and Brookfield, VT, USA: Edward Elgar. Kirzner, Israel M. (1996) "Reflections on the Misesian Legacy in Economics," Review of Austrian Economics, 9(2), 143-S4. Kirzner, Israel M. (1999) "Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," Review of Austrian Economics, 11(1- 2),5-17. Kirzner, Israel M. (2000a) "The Limits of the Market: the Real and the Imagined," reprinted in Israel M . Kirzner The Driving Force of the Market: Essays in Austrian Economics, London: Routledge. Kirzner, Israel M. (2000b) "Foreword," in Frederic Sautet (2000) An Entrepreneurial Theory of the Firm, London: Routledge. Kirzner, Israel M. (2001) Ludwig von Mises, Wilmington: lSI Books. Kirzner, Israel M. and Frederic Sautet (2006) "The Nature and Role of Entrepreneurship in Markets: Implications for Policy," Mercatus Policy Series, Policy Primer No. 4, Arlington: Mercatus Center. Klein, Peter (2007) "The Place of Austrian Economics in Entrepreneurship Research," unpublished manuscript. Knight, Frank (1921) Risk, Uncertainty, and Profit, Boston: Houghton Mifflin Company. Lavoie, Don (1991) "The Discovery and Interpretation of Profit Opportunities: Culture and the Kirznerian Entrepreneur," in B. Berger (ed.) The Culture of Entrepreneurship, San Francisco: Institute for Contemporary Studies, pp. 33-SI. Lie, John (1997) "Sociology of Markets," Annual Review of Sociology, 23(1), 341-60. Lipsey, Richard and Kenneth Carlaw (2004) "Total Factor Productivity and the Measurement of Technological Change," The Canadian Journal of Economics/Revue canadienne d'Economique, 37(4), 1118- S0. Lipsey, Richard, Kenneth l. Carlaw and Clifford Bekar (2006) Economic Transformations: General Purpose Technologies and Long Term Growth, Oxford: Oxford University Press. Machovec, Frank. M. (l99S) Perfect Competition and the Transformation of Economics, London: Routledge. Marshall, Alfred (1890) (1936) Principles of Economics, 8th edition, London: Macmillan and Co. Mises, Ludwig von (1962) "Profit and Loss," reprinted in Planningfor Freedom, 2nd edition, South Holland, IL: Libertarian Press. Mises, Ludwig von (1966) Human Action: A Treatise on Economics, 3rd edition, Chicago: Contemporary Books. Mises, Ludwig von (1978) Notes and Recollections, South Holland, IL: Libertarian Press. O'Driscoll, Gerald P. Jr. (1977) Economics as a Coordination Problem: The Contributions of Friedrich A. Hayek, Kansas City: Sheed Andrews and McMeel, Inc. Richardson, George B. (1960) Information and Investment, 2nd edition, Oxford: Oxford U niversi ty Press. Rizzo, Mario J. (1990) "Hayek's Four Tendencies toward Equilibrium," Cultural Dynamics, 3(1),12- 31. Rothbard, Murray N. (l98S) "Professor Kirzner on Entrepreneurship," Journal of Libertarian Studies, 7(2), 281-6. Rothbard, Murray N. (1987) "Breaking Out of the Walrasian Box: Schumpeter and Hansen," Review of Austrian Economics, 1(1987),97-108. Rothbard, Murray N. (1993) Man, Economy, and State: A Treatise on Economic Principles, Auburn: Ludwig von Mises Institute. Salerno, Joseph (1990) "Ludwig von Mises as a Social Rationalist," The Review of Austrian Economics, 4(1), 26-S4. Salerno, Joseph (1993) "Mises and Hayek Dehomogenized," The Review of Austrian Economics, 6(2), 113-46.
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HANDBOOK ON CONTEMPORARY AUSTRIAN E
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Handbook on Contem
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Contents List of contributors Intro
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Contributors Scott A. Beaulier is t
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Contributors ix Society, the Journa
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I Only individuals choose Anthony J
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Economics as the study of coordinat
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The facts of the social sciences ar
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PART II MICROECONOMICS
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Austrian economics in the twenty-fi
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