Issue 8(2) of the Quarterly Journal of Austrian Economics is now available online. I especially enjoyed David Andersson’s, “The Spatial Nature of Entrepreneurship.” The core argument:
A spatial extension of the theory of entrepreneurship helps explain several of the most common phenomena associated with economics development, such as urbanization, migration, and changes to the profit opportunities that entrepreneurs may or may not notice.
In short, an entrepreneur’s choice of location will influence future opportunities for alertness and hence profit. Choosing a location can itself be seen as a discovery process.
This is a nice extension of Kirzner’s theory of entrepreneurship as well as a complement to the work of David Harper who explores the role of psychology and culture in the entrepreneurial process (my review of Harper’s latest book dealing with these issues is available here).