We are grateful for the comments to our article, and for the opportunity to respond to them. In our original contribution, we argued that the application of the EOE perspective could help make Austrian economics more concrete, relevant and persuasive, especially regarding policy prescriptions. At the heart of this perspective is the idea that entrepreneurship, when construed as the act of building an innovative firm, is an inherently collaborative activity. The comments have strengthened our conviction that the EOE perspective is of value for Austrian economics and been of great help in furthering our thinking on the matter. The comments have also helped us see how the perspective fits in with the broader tradition of Austrian economics.
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We do not claim to be inventors of the wheel, and readily acknowledge that most of the facts and insights we draw on derive from previous (Austrian and non-Austrian) academic work, which we try to cite to the best of our ability. The suggestions for additional citations from all contributors to this symposium are much appreciated.
Likewise, it is true that U.S. labor markets are largely “deregulated.” Thus, one may wonder why many people have two jobs, adding to commuting distance and undermining loyalty and firm-specific knowledge development. The reason: if you offer somebody a job of 30 h per week or more, the firm has to pay health insurance as long as the firm has at least 25 employees (https://www.ehealthinsurance.com/resources/small-business/are-employers-required-to-offer-health-insurance-in-2019).
Such an analysis is also absent in Foss and Klein’s 2012 book.
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We gratefully acknowledge financial support from the Jan Wallander and Tom Hedelius Foundation and the Marianne and Marcus Wallenberg Foundation.
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Elert, N., Henrekson, M. The collaborative innovation bloc: A reply to our commentators. Rev Austrian Econ 32, 349–361 (2019). https://doi.org/10.1007/s11138-019-00456-x
- Austrian economics
- Schumpeterian entrepreneurship
- Spontaneous order