William J. Baumol is the 2003 winner of the International Award for Entrepreneurship and Small Business Research. Throughout his career Baumol has urged the profession to pay attention to the instrumental role of entrepreneurship in economic renewal and growth. At the same time he has insisted...

This is a revised and expanded version of an autobiographical essay contributed to the volume "I Chose Liberty: Autobiographies of Contemporary Libertarians" (ed., Walter Block, 2010), collecting autobiographical notes from classical liberal / libertarian academics within economics, political...

Deirdre McCloskey's Bourgeois Dignity deploys Israel Kirzner's theory of entrepreneurial discovery as a critical component in her explanation of the Industrial Revolution. This essay examines whether Kirzner's theory can bear the analytical load that McCloskey would place on it. I identify two...

Friedrich Hayek is often credited with the resurgence of interest in alternative monetary systems. His own proposal, however, received sharp criticism from Milton Friedman, Stanley Fischer, and others at the outset and never gained much support among academic economists or the wider population....

The study of entrepreneurship and the study of economic organizing lack contact. In fact, the modern theory of the firm virtually ignores entrepreneurship, while the literature on entrepreneurship often sees little value in the economic theory of the firm. In contrast, we argue in this chapter...

William J. Baumol is the 2003 winner of the International Award for Entrepreneurship and Small Business Research. Throughout his career Baumol has urged the profession to pay attention to the instrumental role of entrepreneurship in economic renewal and growth. At the same time he has insisted...

In modern economies an increased utilisation of more and more advanced technologies as well as the more intensive use of physical and human capital can be observed. In this regard, the economic development of Taiwan is considered to be a complementary process of capital accumulation, innovation...

The prediction of an institutional convergence between territories by institutional replication, must take into account the interdependence of institutions which characterizes the identity of territories, more than the replication itself. Basing the interdependence of institutions on the...

It is plain that the Austrian revival that began in the 1970s has yet to succeed in convincing the mainstream of the academy to jettison their physics-based mathematical models in favor of the sort of models and forms of argumentation that contemporary Austrians advocate. Agent-based...