Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase.
Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase.
This new typology of numerous strands of Austrian (and Austrian-related) economics provides some essential insights into the field of entrepreneurship and organization economics.
Marx and Engels denied that the individual played a role in historical evolution, and the idea of "individualism" remains an important antidote to Marxism today.
Just as markets can be described as price discovery procedures for existing goods, services, and resources, entrepreneurship can be usefully described as a price discovery procedure for future goods, services, and resources.
This paper introduces, through two longitudinal case studies, a more dynamic understanding of opportunities. This generates novel insights about how entrepreneurs view opportunities.
This article theoretically refines and empirically extends the subjectivist approach to team entrepreneurship, finding that positive internal and external team dynamics contribute to team effectiveness.
This article discusses the complementarities between New Institutional Economics and Austrian economics, which can advance our understanding of the relationship between institutions and entrepreneurship.
Rather than relying on the evenly rotating economy, this paper uses the imaginary construction of a specialization deadlock to define the entrepreneur-promoter, the pioneers of economic improvement, praxeologically.
The autarkic economy—the economy of one—is not a mere analytic tool, but is a real and significant aspect of praxeology. The entrepreneurial function is prominent in the autarkic economy also.
