Comment on “A Critique of Kirzner's Finders-Keepers Defense of Profit”

Comment on “A Critique of Kirzner's Finders-Keepers Defense of Profit” The Review of Austrian Economics, 15:1, 91–94, 2002. c 2002 Kluwer Academic Publishers. Manufactured in The Netherlands. Comment on “A Critique of Kirzner’s Finders-Keepers Defense of Profit” ISRAEL M. KIRZNER Department of Economics, New York University, 269 Mercer St., 7th Floor, New York, NY 10003-6687, USA It is a pleasure to respond to Theodore Burczak’s penetrating and lucid critique of my use of the pure discovery element in the market process (to suggest a finders-keepers defense of the justice of entrepreneurial profit). I believe that Burczak’s criticisms do not necessarily undermine my defense of entrepreneurial profit; and I believe that Burczak’s criticisms, together with my present response, can usefully advance understanding of the place of economic justice in markets. I am grateful for this opportunity to comment on Burczak’s paper. Burczak’s critique consists of two separate and independent lines of argumentation. I will take up each of these in turn. A. Burczak’s First Line of Criticism This line of criticism relates to the legitimacy of the exchange of labor-time for wages, permitting the employer to retain what the laborer’s work produces that is in excess of the wages paid. My defense of the justice of entrepreneurial profit (for those http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Comment on “A Critique of Kirzner's Finders-Keepers Defense of Profit”

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2002 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/A:1013214416046
Publisher site
See Article on Publisher Site

Abstract

The Review of Austrian Economics, 15:1, 91–94, 2002. c 2002 Kluwer Academic Publishers. Manufactured in The Netherlands. Comment on “A Critique of Kirzner’s Finders-Keepers Defense of Profit” ISRAEL M. KIRZNER Department of Economics, New York University, 269 Mercer St., 7th Floor, New York, NY 10003-6687, USA It is a pleasure to respond to Theodore Burczak’s penetrating and lucid critique of my use of the pure discovery element in the market process (to suggest a finders-keepers defense of the justice of entrepreneurial profit). I believe that Burczak’s criticisms do not necessarily undermine my defense of entrepreneurial profit; and I believe that Burczak’s criticisms, together with my present response, can usefully advance understanding of the place of economic justice in markets. I am grateful for this opportunity to comment on Burczak’s paper. Burczak’s critique consists of two separate and independent lines of argumentation. I will take up each of these in turn. A. Burczak’s First Line of Criticism This line of criticism relates to the legitimacy of the exchange of labor-time for wages, permitting the employer to retain what the laborer’s work produces that is in excess of the wages paid. My defense of the justice of entrepreneurial profit (for those

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 18, 2004

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