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D eirdre Mccloskey, K irznerian Growth and The Role of Social Networks
Author(s) -
Geloso Vincent
Publication year - 2015
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/ecaf.12138
Subject(s) - institution , entrepreneurship , process (computing) , identification (biology) , sociology , computer science , marketing , economic system , political science , business , economics , social science , law , botany , biology , operating system
This article expands on the view of D eirdre M c C loskey that the economic growth of the Western world since the end of the eighteenth century can be explained by the process of entrepreneurial change as expounded by I srael K irzner. This article argues that while K irzner's approach to economic development is indeed fruitful, it should be augmented through the study of social networks, which M c C loskey has largely ignored. When social networks are seen in the light of the K irznerian process of entrepreneurship, they represent an important institution that relays information about the proper identification and perception of opportunities.