Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 15 December 2018

Abstract and Keywords

The system-wide implications of entrepreneurship are usually linked to the effects of innovation on economic growth or to the consequences of alternative institutional settings on various forms of entrepreneurial activity. Yet the motivations and consequences of system-wide entrepreneurship go well beyond those related to innovation and institutions. The goal of this chapter is to show that the market process is entrepreneurial in all its aspects, including its most quotidian operations and adjustments. Specifically, this chapter argues that adopting a Kirznerian alertness perspective allows us to appreciate how entrepreneurship is essential to, and at the center of, the whole dynamic market process, including not only innovation and institutions but also growth, allocation of resources, equilibration, and business cycles, all of which are, ultimately, products of entrepreneurial action.

Keywords: alertness, economic growth, entrepreneurship, innovation, institutions, Kirzner

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.