New Thinking in Political Economy series
Edited by Laura E. Grube and Virgil Henry Storr
Chapter 3: The discovery and interpretation of profit opportunities: culture and the Kirznerian entrepreneur
It is beginning to be evident that the vast literature on growth and development conceals a yawning gap. This void refers to an understanding of the role of the entrepreneur in economic development, both at the theoretical level and at the level of past and prospective economic history . . . In the literature dealing more narrowly with growth models, this hiatus is almost complete and is hardly surprising in view of its predominant concern with macroeconomic relationships. In contrast, the literature dealing with development proper gives some attention to entrepreneurship, although little effort has been devoted to formulating a clear theoretical understanding of the entrepreneurial role. (Israel Kirzner, Perception, Opportunity, and Profit, 1979)
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