Autarkic Entrepreneurship

Abstract

The so-called autistic economy (here autarkic)—the economy of one—has been employed by Austrian theorists as a useful analytic baseline on which to build catallactic (market process) theory, which has included a theory of entrepreneurship. But so far, the autarkic economy has been examined almost exclusively in this way. In this article it is argued that the autarkic economy must brought forward in our theorizing to be understood not as a mere analytic tool, but as a real and significant aspect of praxeology. It is proposed that catallaxy and autarky be understood as substitutes, complements, and even competitors. Extending Austrian theorizing of the autarkic economy, the entrepreneurial function within autarkic economies is examined and elaborated. It is shown that, far from only a catallactic role, the entrepreneurial function is prominent within the autarkic economy also, in which the entrepreneur plays a significant role in augmenting individual lifestyles and, thus, total economic development.