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Spring 2010

ISSN 0890-913X

Volume 25, Number 2

Categories: Entrepreneurship | Spring 2010

Corridors, Coordination, and the Entrepreneurial Theory of the Market Process

Peter J. Boettke, George Mason University

Daniel J. D'Amico, Loyola University New Orleans

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TheJournalofPrivateEnterprise25(2),2010,87-96Corridors,Coordination,andtheEntrepreneurialTheoryoftheMarketProcessPeterJ.BoettkeGeorgeMasonUniversityDanielJ.D’AmicoLoyolaUniversityNewOrleansAbstractWerespondtopointsmadebyKleinandBriggeman(2010),whocriticizetheuseofdefinitivestatementswithinthebodyofresearchbyIsraelKirzner.WecontendthatKleinandBriggeman’scritiquefailstorecognizethecontextofKirzner’sargumentswithinthebroadertraditionofneoclassicaleconomics.WedescribethiscontextandexplainitsrelevancetoKirzner’sconclusions.IncontrasttoKleinandBriggeman,weseeKirznerasanembodimentofthetraditionofpoliticaleconomybegunbyAdamSmith.Properlyunderstood,thistraditionremainsapositivesocialscience.KleinandBriggeman’sconcernsregardingdefinitivestatementsarewellintentionedbutmisplaced.Politicaleconomistsshouldbewaryofpredictionwithprecision,buttherearescientifictruthsofeconomiclaw–generaltendenciesandpatternprediction.Kirznersuccessfullythreadstheselines.JELCodes:B53,B3Keywords:IsraelKirzner;Coordination;AustrianeconomicsWehavebeenaskedtocontributetoanongoingconversationbetweenDanielKlein(Klein,1997;KleinandOrsborn,2009;KleinandBriggeman,2010)andIsraelKirzner(2010),whohavebeenengagedinadebateconcerninghoweconomistsshouldunderstandandusetheterms“coordination”and“economicgoodness.”KleinandBriggeman(2010)contendthatKirznersuffersfromexcessiveambitionscientifically.“[He]makes‘always’-or‘necessarily’-typeclaims–categoricalclaims–wheretheclaimsinsteadshouldbe‘usually’or‘byandlarge’”(p.2).ToKleinandBriggeman,Kirzner’srelianceonandidentificationwith“theMisesianimageofscience”threatenstodiscredithismoresensiblecontributions–thatmarket87

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Title	Corridors, Coordination, and the Entrepreneurial Theory of the Market Process
Authors/Creators:	Peter J. Boettke, George Mason University Daniel J. D'Amico, Loyola University New Orleans
Year:	2010
Volume:	25
Number:	2
Pages:	87 - 96
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Economic coordination, Market economy, Ludwig von Mises, Liberalism, Friedrich Hayek, Israel Kirzner, Concatenation, Discovery, Austrian economics, Methodology

Citation:
Boettke, Peter J.; D'Amico, Daniel J. / 2010. "Corridors, Coordination, and the Entrepreneurial Theory of the Market Process." The Journal of Private Enterprise, 25(2): 87-96.