Abstract

LASIERRA ESTEBAN, José Manuel. The idea of entrepreneurship in the Austrian economics and the labour market institutions in the global economy. Rev.econ.inst. [online]. 2016, vol.18, n.35, pp.79-100. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v18n35.05.

In this paper we note a complementary relationship between the Austrian school, based on the individual’s role and markets, and institutional economics, which emphasizes the role of institutions in economic behavior. The idea of continuous improvement in corporate governance takes place in a system of complex and interrelated production in which the contributions of the various actors are necessary and difficult to quantify. Our working hypothesis is that institutions can to solve the distributional conflict and generate more productive organizations, while stimulating the entrepreneurial spirit.

Keywords : Institutional; Austrian; transaction costs; firm organization and market structure; public policy.

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