Abstract
This paper combines the theoretical framework developed by Coyne and Boettke (2009) about an entrepreneurial theory of social and cultural change, with the contributions of Huerta de Soto (2010) about the impossibility of economic calculation in socialism. With this synthesis, the entrepreneurial theory of social and cultural change is reinforced to (1) refute any political action aimed to achieve social and cultural changes, and (2) to claim the entrepreneur as the driving force of all social phenomena. The paper concludes that, as in the market sphere, the government cannot effectively implement policies oriented to social and cultural change, since it cannot acquire the knowledge necessary to plan society and social relationships.
Highlights
A great deal has been written about social and cultural change, and how entrepreneurs can influence in the social process
Many scholars talk about political entrepreneurship, and believe that some individuals with entrepreneurial features can act within governments in order to attain social and cultural changes
Coyne and Boettke (2009) made a great effort in elaborating an entrepreneurial theory of social and cultural change, where they adapt the Austrian economic approach about entrepreneurship and economic calculation, in which social change is only feasible if it is performed by entrepreneurs but not by governments and political agents
Summary
A great deal has been written about social and cultural change, and how entrepreneurs can influence in the social process. Oyne and Boettke (2009) state that only entrepreneurs can attain the social and cultural change, and that government cannot due to difficulties in estimating what they call reputation capital, they only focus on democracies and only adapt one concrete Austrian idea about the economic calculation debate (the Misesian one) to their argumentation To make it a more robust theory, that can reject any political action of any system, democracies, we will introduce the thorough theory about entrepreneurship and economic calculation developed by Huerta de Soto (2010), which mix the Misesian argument and the Hayekian reasoning about the impossibility of socialism, grounded in an exhaustive theory of the entrepreneurial knowledge. Further research can delve into this idea and investigate the creation and transmission of such entrepreneurial knowledge, as well as study cases in which entrepreneurial action has succeeded while the government has failed in the same goal
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