8. Conclusion

The above objections in no way diminish the great merit of Kirzner’s work in the field of entrepreneurial theory and its application to the development and provision of foundations for a whole theory of social ethics, which has been capable of setting aside the demands of “social” or redistributive justice based on the analytical error of presupposing a static economy with given resources and information. The dynamic conception of the market makes it easier to take up a position in the ethical field and strengthens the consideration that free markets driven by entrepreneurship are not only more efficient from the dynamic point of view, but are the only just markets. Therefore, there is no justification for any actor who acts entrepreneurially, and meets the traditional principles of property law, feeling any sense of guilt when he appropriates the results of his creative capacity. The comprehension of how the entrepreneurial market process functions in dynamic terms makes it obvious that the essential principle of social justice and ethics should be based on the appropriation of the results of the entrepreneurial creativity of each actor and, as is logical, it is perfectly compatible for this entrepreneurial creativity and spirit to also be used to, voluntarily, seek, discover and alleviate any situations of urgent need into which other human beings may have fallen.


Jesús Huerta de Soto
Professor of Political Economy
King Juan Carlos University of Madrid, Spain

“No part of this work may be reprinted or reproduced or utilized in any form
or by any electronic, mechanical, or other means, now known or hereafter
invented, including photocopying and recording, or in any information
storage or retrieval system, without citing the name of the author and the
source from which it has been taken.”