Mainstream economics is deterministic, holding that economic actors continue to move in one direction, not responding to changes in economic circumstances or incentives. The Austrians understand economics is about people engaged in purposeful action.
College professors have suddenly discovered entrepreneurship and are teaching about it in their classes. However, while it is an interesting subject, one cannot teach someone how to be a successful entrepreneur.
College professors have suddenly discovered entrepreneurship and are teaching about it in their classes. However, while it is an interesting subject, one cannot teach someone how to be a successful entrepreneur.
In any society, there are winners. But how do they win? Successful entrepreneurs innovate, take risks, and satisfy consumer needs in a competitive marketplace.
The greatest innovations don’t emerge from a checklist; they arise from an obsession with understanding something that others overlook.
Tariffs block the entrepreneurial discovery process that is essential for progress. Tariffs and protectionist policies are damaging in all respects.
For all of the political and social turmoil in this country and elsewhere, the technological revolution marches on. While many pundits tell us we should fear these technological advances, the net result of them is positive, as new and improved technology advances capital development.
Erick Brimen joins Bob to show how Próspera Honduras offers economic freedom and choice in regulatory treatment.
It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention.
Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it.
