The word entrepreneur originally meant someone who is active, risky, and even violent. Richard Cantillon changed both the meaning of the word, and our ideas of what entrepreneurs are.
The concern over concentrated influence of corporate special interests is valid, but not because corporate special interests will prevent economic regulation. The problem is corporate executives consistently agitate for more government control.
If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
Hunter Hastings joins Jeff Deist with great insights into the social benefits of profit vs. interest, entrepreneurial risk, progressing and retrogressing economies, and the bunkum known as the "Paradox of Saving." They focus on Chapter 8 of Rothbard's Man, Economy, and State.
Although many claim "nobody saw this coming," some entrepreneurs planned ahead and also have found ways to cater to customers under new conditions.
Formal models of the economy, writes Murray Rothbard, tend to overlook a crucial instrument of change: entrepreneurship.
