Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur

Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur Review of Austrian Economics, 11: 5–17 (1999) ° c 1999 Kluwer Academic Publishers Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur ISRAEL M. KIRZNER he purpose of this paper is to reconsider the difference between Schumpeter’s portrayal of the entrepreneurial role, and my own earlier (1969, 1973) por- trayal of that same role. In 1969 and in 1973, in the course of developing my own understanding of the entrepreneurial character of the competitive, equili- brative market process, I emphasized these differences as I then saw them. Schumpeter’s entrepreneur, I pointed out, was essentially disruptive, destroying the pre-existing state of equilibrium. My entrepreneur, on the other hand, was responsible for the tendency through which initial conditions of disequilibrium come systematically to be displaced by equi- librative market competition. The outcome of the present reconsideration will be, not a thoroughgoing “reconciliation” of these two conceptions of the entrepreneurial role—I still believe that these views are, at least in part, contrasting ones—but a clearer understanding of how each of these apparently conflicting views can be seen as plausible and realistic; and how each can usefully advance economic understanding (of respectively different aspects of the capitalist economy). The central theme of this The Review of Austrian Economics Springer Journals

Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur

Loading next page...
Kluwer Academic Publishers
Copyright © 1999 by Kluwer Academic Publishers
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
Publisher site
See Article on Publisher Site


You’re reading a free preview. Subscribe to read the entire article.

DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Unlimited reading

Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.

Stay up to date

Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.

Organize your research

It’s easy to organize your research with our built-in tools.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

Monthly Plan

  • Read unlimited articles
  • Personalized recommendations
  • No expiration
  • Print 20 pages per month
  • 20% off on PDF purchases
  • Organize your research
  • Get updates on your journals and topic searches


Start Free Trial

14-day Free Trial

Best Deal — 39% off

Annual Plan

  • All the features of the Professional Plan, but for 39% off!
  • Billed annually
  • No expiration
  • For the normal price of 10 articles elsewhere, you get one full year of unlimited access to articles.



billed annually
Start Free Trial

14-day Free Trial