The debate between the Austrian School of Economics and the cooperative movement. The assumption of an unequal perceptiveness of the agents

Abstract

In the Austrian School theory, the market process is driven by alertness, or entrepreneurial discovery, where the subjective perception of information is an essential element. According to Mises, this perception is unequal in different agents, as the entrepreneurs are especially talented individuals that need encouragement. But some other Austrian Economists defend cooperative arrangements, assuming that everybody has some entrepreneurial skills and may be owner and manager of the firm. This article poses the question of whether or not it is on the foundations of the Austrian School of Economics to defend an unequal psychology of agents that will preclude cooperative businesses from the market economy. It concludes that contact of Mises with the Spann circle in Vienna was a determinant feature for his elitist vision of the entrepreneur.