Entrepeneurs and Uncertainty: Back to the Future

Tags: The Entrepreneur

02/24/2012 Matthew McCaffrey

Entrepreneurs are the driving force behind the markets and prices that provide goods and services to consumers. Human action looks to the future. Uncertainty is always with us. We don’t want to make awful decisions about our scarce resources. Entrepreneurs shoulder risks and, if they guess right, collect profit as rewards. If wrong, they lose.

A private seminar presented at the Mises Institute on 21 February 2012.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.