TITLE:
Entrepreneurship in Market Process
AUTHORS:
Xiaobin Peng
KEYWORDS:
Austrian School, Market Process, Entrepreneurship
JOURNAL NAME:
Modern Economy,
Vol.10 No.3,
March
1,
2019
ABSTRACT: Based on the market process theory of the Austrian
School of Economics, the article explores entrepreneurship in the market
process, pointing out that market process is opposite to statics equilibrium. Under
statics equilibrium, it is hard to analyze entrepreneurship by economics.
Entrepreneurship only exists in the market process. The article argues that in market
process, entrepreneurship is reflected in entrepreneur’ behavior, including
undertaking the uncertainty of business,
combining heterogeneous capital, building the structure of capital.
Profit-driven entrepreneur unintentionally makes economic society progress.
Entrepreneurship is not only relative with entrepreneur’s personal interest,
but also economic society of the entire human.