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Spring 2010

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Volume 25, Number 2

Categories: Government Policy | Spring 2010

Including U.S. State Government Regulation in the Economic Freedom of North America Index

Noel D. Campbell, University of Central Arkansas

Alex Fayman, University of Central Arkansas

Kirk C. Heriot, Columbus State University

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TheJournalofPrivateEnterprise25(2),2010,145-164Alertness,Action,andtheAntecedentsofEntrepreneurshipNicolaiJ.Foss*CopenhagenBusinessSchoolNorwegianSchoolofEconomicsandBusinessAdministrationPeterG.KleinUniversityofMissouriAbstractWereviewandcritiqueIsraelKirzner’sconceptoftheentrepreneur,offeringthreechallengestohisbasicanalyticalframework.First,wecharacterizeKirzner’semphasisonequilibrationasadeparturefromthecausal-realistpricetheoryofMengerandhisnineteenth-andtwentiethcenturyfollowers.Second,wecontrastKirzner’sideaofentrepreneurshipasdiscoverywithamorerealistic,andoperationallymeaningful,notionofentrepreneurshipasaction,onethattiestogethertheentrepreneurialandownershipfunctions.Finally,wediscussaninconsistencyinKirzner’streatmentoftheantecedentsofentrepreneurialdiscovery.JELCodes:B53,D1,D83Keywords:Austrianeconomics;Entrepreneurship;Action;Discovery;JudgmentI.IntroductionIsraelKirzner’sconceptofentrepreneurshipasalertnesstoprofitopportunitiesisadominantstrandofthecontemporaryentrepreneurshipliterature,alongwithSchumpeter’s(1911)notionofentrepreneurshipasinnovationandKnight’sideaofentrepreneurshipasjudgment.Thedistinctionbetween“Schumpeterian”and“Kirznerian”entrepreneurshasbecomestandardintheliterature(althoughKirzner(2009)himselfconteststhedistinction).AmongAustrianeconomists,Kirzner’sunderstandingofthemarketas“anentrepreneuriallydrivenprocess”(LudwigvonMisesInstitute,1997,*WethankDanKleinandJoeSalernoforhelpfulconversationsandPerBylundandClausVistesenforresearchassistance.Theusualcaveatapplies.145

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Metadata [hide]

Title	Including U.S. State Government Regulation in the Economic Freedom of North America Index
Authors/Creators:	Noel D. Campbell, University of Central Arkansas Alex Fayman, University of Central Arkansas Kirk C. Heriot, Columbus State University
Year:	2010
Volume:	25
Number:	2
Pages:	165 - 186
Publisher:	The Association of Private Enterprise Education
Document Type:	Articles
Keywords:	Public expenditure, Income, Economic Freedom, Regulation, State government, Factor Analysis

Citation:
Campbell, Noel D.; Fayman, Alex; Heriot, Kirk C. / 2010. "Including U.S. State Government Regulation in the Economic Freedom of North America Index." The Journal of Private Enterprise, 25(2): 165-186.