Index

A

Alertness, 3, 5, 6, 13, 15-18, 20-25,

36, 67, 69, 72, 74-76, 78, 88,

98, 101, 104, 111, 125, 126, 129

Allocation, 2, 14, 16-18, 20-24, 34, 106, 124, 127, 132, 143, 145, 157, 163

Arbitrage, 3, 33, 36, 61, 74, 81, 84,

87, 103, 112

Assets, 6, 31, 35, 36, 52, 53, 55, 56,

58, 60, 182

B

Baumol, William, 7, 15-17, 24, 127, 152-154, 168, 175

Buchanan, James M., 1-3, 6, 31, 49,

50

Bureaucracy, 5, 172 bureaucratic, 81, 88, 105

Business cycle, 13, 24

theory, 14

C

Calculation, 42, 58, 97, 113, 114, 135, 136, 142

calculate, 36, 40, 49, 60, 61 calculating, 44, 49, 160

Choices, 6, 17, 18, 20, 27-29, 37-40, 42-46, 49, 50, 53, 55, 58-60, 100, 104, 110, 127, 129, 137-139, 177, 192

Coase, Ronald, 30, 31

Coasian, 31

Comparative Institutions, 59, 125, 131, 133, 137, 144

Competition, 7, 21, 33, 35, 76, 83, 98, 106, 114, 151, 177, 191

Complexity, 28, 29, 39, 42, 43, 48, 56, 60, 61, 68, 74, 75, 83

Constitution, 102, 112 constitutional constraint, 157

Coordination, 98, 100, 106, 111, 113, 114, 129

Costs

dispersed, 73, 98, 100

© The Editor(s) (if applicable) and The Author(s), under exclusive 203

license to Springer Nature Switzerland AG 2021

A.

Process, Mercatus Studies in Political and Social Economy, https://doi.org/10.1007/978-3-030-42408-4

opportunity costs, 37, 49, 50, 54,

58

sunk, 16, 18, 53, 54

Culture, cultural, 4, 5, 7, 17, 68-72, 75, 76, 78-82, 87, 88, 102, 109, 111, 112, 114, 125, 127, 128, 130, 132-134, 137, 140, 143, 144, 185, 191, 195

D

Discovery, 7

Disequilibrium, 32, 33, 81, 83, 87

E

Economic

economic development, 151 Embeddedness, 103

Employment, 14, 18, 46, 47, 49, 55, 56, 58, 60, 151, 180, 188, 189, 196

Endogenous, 71, 75, 82, 126 endogenize, 43

Entrepreneur, 2-5, 19, 28, 31-38, 41-43, 45-49, 51-59, 61, 68, 70, 72-74, 77, 84, 85, 87-89, 97, 104, 107, 109, 112, 114, 125, 129, 136, 154, 175, 178, 179, 189, 195

Entrepreneurial

alertness, 72

discovery, 99 process, 6, 30-32, 52, 61, 69, 80, 87, 102, 105, 107, 110

Entrepreneurship

productive, 7, 154

unproductive, 154

Epistemic, 29

Equilibrium, xi, 1-3, 20-24, 27, 32-34, 44, 46, 52, 60, 84, 85, 100

Error, 3, 14, 138

Ethnic, 37, 67-69, 72, 78-81, 85, 87, 89, 128

ethnicity, 69, 78

Evolutionary, 17, 31

Expectations, 19, 36, 55, 71-73, 88, 180, 181

F

Factors, 2, 7, 13-19, 21-24, 37, 42, 43, 48, 79, 125, 128, 138

Feedback, 99, 111, 113, 114

Firm, 8, 16, 27-30, 37, 38, 58, 70, 83, 85, 102, 107, 151, 152, 155-157, 168, 171, 174, 176-180, 185, 190

Future, 7, 30, 36, 40, 42, 46, 71, 73, 75, 77, 78, 98, 100, 104, 106, 112, 115, 129, 143, 168, 169, 181

G

Growth, 14, 16, 24, 47, 57, 80, 82,

83, 115, 124-126, 129-131, 143, 144, 151-156, 158, 168, 171, 173, 175, 177, 178, 180, 181, 183, 187, 196

H

Hayek, Friedrich, 14, 31, 39, 40,

72-74, 97, 98, 100, 104, 113

Human Action, 3, 67, 70, 71, 98, 99, 101

I

Ignorance, 36, 69, 74, 75, 81, 100, 104, 191

Inframarginal, 44, 45, 50, 60

Input, 2, 16, 21, 27, 28, 38, 41, 43,

52, 53, 55, 61

Institutions, institutional

formal, 7, 81, 83, 84, 102, 103,

108, 112, 144

informal, 81, 82, 84, 102, 103,

109, 112, 127, 131

Investment, 6, 13, 14, 16, 19-21, 23, 36, 82, 108, 131, 156, 157, 192, 195

K

Kirzner, Israel, 2-5, 15, 17, 30-36, 47, 49, 61, 67, 68, 73-75, 78, 87, 97, 100, 101, 125, 126, 129

Knowledge, 3, 5, 6, 13, 30, 31, 36, 40, 57, 71-76, 87, 98, 100, 108, 156

L

Lachmann, Ludwig, 14, 29, 34, 71

Lobbying, 104, 156, 177

M

Mainstream, 32, 33, 40, 43, 49, 70, 72, 74, 76, 79, 82, 83, 88, 128

Marginal

analysis, 6, 27, 28, 51, 52, 58 product, 20, 21, 23, 61

Market process, 2, 3, 6, 7, 15, 17, 67,

72, 97, 98, 108, 111, 113, 129

McCloskey, Deirdre, 125, 127, 129-131

Microeconomics, 28, 37, 43, 50, 53

Mises, Ludwig von, 14, 73, 97, 100, 113, 114

N

Norms, 7, 102, 103, 109, 127, 131, 137, 138, 140-142, 144

North, Douglas, 51, 72, 75, 84, 99,

109, 127

O

Optimization, 27, 45, 48-50, 60 Organization, 4, 31, 36, 59, 105-108, 156, 185

Orthodoxy, 1

Output, 2, 14, 16, 17, 20, 38, 123

P

Path-dependence, 30, 31, 37, 51, 56,

58-60

Price

signals, 6, 49, 100

theory, 1, 2

Production

function, 17, 20, 27, 28, 44, 45, 48, 130

process, 13, 15, 16, 18, 28, 37, 38, 52, 59

Profit, 4, 13, 36, 38, 47, 54, 58, 67,

70, 71, 74, 75, 86, 97, 99, 113, 152, 154

opportunity, 3, 5, 13, 15, 16, 18, 22, 24, 35, 98, 99, 101, 104, 105, 112, 126, 129, 154

Property rights, 83, 97, 99, 102, 103, 107, 108, 114, 127, 129, 136, 176

R

Regulation, 105, 107, 112, 114, 127, 172-179, 187-192,194-197

Rent

rent-seeking, 7, 14, 16, 22-24, 105, 127, 152, 154, 155, 157, 163 Rules

of the game, 2, 99, 102, 103, 105-107, 112, 127, 131

S

Schumpeter, Joseph A., 5, 28, 30-32, 34-36, 43, 68, 124-126

Specialization, 43, 44, 46, 48

and division of labor, 43 Spontaneous, 78, 88, 98, 109, 113 Startup, 8, 37, 50, 54, 55, 171, 173-177, 179, 180, 182-197 Subjective, 29, 49, 69, 71, 73, 76, 108, 113

Supply, 3, 18, 70, 106, 107, 124-128, 132, 133, 137, 143, 145

U

Uncertainty, 14, 30, 31, 40-42, 73,

98-100, 104, 127, 143, 186, 195

radical, 6, 29, 30, 42

W

Weber, Max, 70

weberian, 68, 70