The Unintended Consequences of Entrepreneurship

Journal des Economistes Et des Etudes Humaines 9 (4):567-586 (1000)
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Abstract

L’activité entrepreneuriale génère l’activité entrepreneuriale. Cet article développe cette idée dans une perspective autrichienne. Nous envisageons les entrepreneurs kirznériens sous l’angle de l’apprentissage hayékien. L’activité entrepreneuriale développe l’activité entrepreneuriale de deux manières. Premièrement, la mise en oeuvre d’une nouvelle tentative crée de nouvelles opportunités pour d’autres nouvelles tentatives. Deuxièmement, chaque acte entrepreneurial kirznérien est un exemple incitant les autres à faire de même. Nous mettons l’accent sur le second point. Chaque nouvelle tentative entrepreneuriale modifie les perceptions des autres quant à l’émergence des opportunités, aux gens qui peuvent les saisir, etc. Elle rend les gens plus vigilants. Ainsi, l’action entrepreneuriale crée des externalités positives. Ces externalités expliquent que des communautés, par ailleurs identiques, donnent lieu à des niveaux différents de tentatives entrepreneuriales.Entrepreneurship breeds entrepreneurship. This insight is developed within the context of Austrian economics. We view Kirznerian entrepreneurs as Hayekian learners. Entrepreneurship breeds entrepreneurship two ways. First, the founding of a new venture creates new opportunities for other new ventures. Second, each act of Kirznerian entrepreneurship is a favorable example for others to follow. We concentrate on the second point. Each act of newventure entrepreneurship changes the perceptions of others about how new ventures are founded, what sort of person might do it, and so on. It makes people more alert. Thus, entrepreneurship creates a network externality. This externality explains the fact that otherwise similar communities produce dissimilar levels of new-venture entrepreneurship.

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