Entrepreneurship

People who are born as the wealthy children of successful businesspeople are often very confused about how economic prosperity is created.

We have designed a survey to investigate 8 entrepreneurial traits. Please help us to refine this research instrument by participating in this survey.

The principal characteristic shared by Socrates, Plato, and Aristotle — the three greatest philosophers of ancient Greece — was their inability to grasp the essential principles of the spontaneous market order and its dynamic process of social cooperation.

Schumpeter's review, now available in English, emphasizes that Fetter's Principles is more than merely a textbook, and highlights the close connection between Fetter’s theory and the economics of the Austrian school, especially his classification of entrepreneurial activity.

Calls for finding efficiencies in government by electing or appointing people to “run it like a business” are futile.

Recorded at Mises University 2018.

If you are “self-employed,” you do not have the luxury of focusing on keeping down or cutting (your) costs instead of creating value.

Once it is understood that profits and losses evolve from the changing values of consumers, it becomes obvious that abolishing windfall profits or windfall losses is impossible.

Efficiency is not just the avoidance of waste. When entrepreneurs expand the boundaries of what is economically possible, we get "dynamic efficiency," which is essential for progress. 

Whether we wish any particular boycott well or ill depends on our moral values. But a boycott is legitimate per se.