Good piece. Nice to see Kirzner get some credit. I read Competition and Entrepreneurship... ouch, 42 years ago. "Speaking of Schumpeter—while he’s often contrasted with Kirzner, the empirical work suggests their insights are complementary." Yes, that seems right to me. Keep bridging the gap, Brian.
Good piece. Nice to see Kirzner get some credit. I read Competition and Entrepreneurship... ouch, 42 years ago. "Speaking of Schumpeter—while he’s often contrasted with Kirzner, the empirical work suggests their insights are complementary." Yes, that seems right to me. Keep bridging the gap, Brian.
All this seems to me to overlook TWO elephants in the room.
The first elephant is shifting (thrashing) government regulations/laws.
The other is changing consumer tastes (demands).
With these two left out, how can the theories even have much power?
The first elephant was active indeed in Eastern Europe as central planning declined/fell away.