I attended a conference last week and, especially, a research development workshop. In this workshop, one of the discussants commented on a paper that the author (not me) had to make it clear whether the firm was “entering a new market or only launching a new product in an existing market.” That comment totally confused [...]
This book [pdf here] provides a wonderful discussion on the theoretical implications of treating capital [goods] as heterogeneous. It may not seem very radical, since everybody knows that a hammer is not exactly the same thing as a ladder, an airplane, or a machine. But to economic theory, this is a radical move. Only in [...]
A nice summary of the rise and fall of the Swedish welfare state, “the capitalist welfare state” to the author. The book covers the “golden years” approximately 1870-1970 and discusses how and why Sweden could go from being one of the poorest to one of the richest countries in the West – while supporting an [...]
A nice collection of essays summarizing the cutting edge political science institutional research on what drives political change. As a rather new-born economist, I can’t help thinking that research in political science often tends to become more of a narrative than a structured pursuit of knowledge – and that this sometimes (as was the case [...]
Mises supposedly said that Carl Menger’s Principles was still (at the time) the best introduction to Austrian economics. This is certainly true, but I would go further than that. The Principles is not only an introduction to Austrian economics but a great introduction to sound economic thinking. Whether you agree with “Austrians” or not, and [...]
A nice introduction to the study of functional entrepreneurship and the context in which it exists and is exercised. But emphasis should be on the word “introduction” – this is not a heavy analysis in scholarly style, but rather a quick overview of the topics studied re: both entrepreneurship and institutions. I’m not sure exactly [...]
Freakonomics was an immediate success when hitting the bookstores back in 2005. I guess its melding of pop culture with economics was something unexpected, long awaited, and seemed interest in the market. Granted, the book is an easy read with plenty of provocative examples and a clear logical reasoning that is scarce both on television [...]
No doubt, Kirzner is an excellent thinker. However, I do get a feeling that his theory of entrepreneurship is somewhat limited. As an Austrian economist, I do not understand why he necessarily limits entrepreneurial action to decisions following alertness to opportunities. It seems his market process consists of these decisions – but that the decisions [...]
Unfortunately, this book’s strength is just as advertised: it is old, yet accurate. The story itself could be a lot more enjoyable if the author had not written it in such a heavy and inaccessible language. Don’t get me wrong, the book is not written badly and is also not very hard to read. The [...]
Kirzner’s Perception, Opportunity, and Profit is a collection of essays, previously published and unpublished, on a number of issues relating to the well-known Kirznerian concept of entrepreneurship. As such, it supposedly offers a clarifying discussion on what is meant by “pure” entrepreneurship, alertness (as opposed to innovation, judgment, etc.), and, perhaps the most provocative part of [...]