Contrary to Kirzner’s effort to de-emphasize innovation and the resulting disruption, Giersch reinstated the innovator-entrepreneur without reinstating the small social class of Schumpeter’s elite entrepreneurs. Instead, Giersch adopted the far-and-wide approach to risk and responsibility carrying entrepreneurship offered by Knight and Mises, and the special ability entrepreneur offered by Kirzner, all fellow MPS members. All these elements of an individualist entrepreneurial mindset fed the new perspective of entrepreneurial management, collaboration in innovation systems and “intrapreneurship,” or “Schumpeter Mark 2.” Creative destruction would no longer require the boom and bust of the firm.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 305