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Entrepreneurship

S/B/530. Adaptive Adjustment and Creative Destruction in Entrepreneurship

WORDS:
1900
DATE:
2009
PRICE:
19.99 GBP

The paper looks at the concept of entrepreneurship reviewing the theories by Israel Kirzner and Joseph Schumpeter, discussing the entrepreneurial features of capitalism and the notions of ‘creative destruction' and ‘adaptive adjustment'. The requirement to achieve an equilibrium situation is argued to be a necessary prerequisite of the entrepreneurial activity.

 

KEYWORDS: Entrepreneurship, Kirzner, Schumpeter!,

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