In any case Giersch declined the invitation offered by several authors to integrate entrepreneurship into the realm of macroeconomic neoclassical equilibrium thinking. The important link between Schumpeter, Mises, Kirzner, Schmölders, and Giersch is the emphasis on market process, dynamic, and change. The vastly expanded vision of individual entrepreneurship we already found in the writing of Mises and expressed by some of the speakers at the 1970 MPS conference was thereby consolidated in a theoretical position, and was ready to be projected to ever wider classes of citizens within corporations (intrapreneurship) and outside. The underemployed and unemployed are turned into self-employed, provided the political institutions are adequately reformed and the incentives are right. Giersch calls this the demand side for entrepreneurship, “the demand permitted, induced or actively provoked by the socio-economic structure and the political and cultural environment.” The demand for entrepreneurship, in other words, depends on the social arrangements in support of economic freedom.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 307